KalVista price target raised to $40 from $32 at Jefferies

Jefferies analyst Maury Raycroft raised the firm’s price target on KalVista (KALV) to $40 from $32 and keeps a Buy rating on the shares after the company announced that the FDA has approved Ekterly for the treatment of acute attacks of hereditary angioedema in adult and pediatric patients. The approval “hit our bull-case” with a broad label, no safety surprises and pricing slightly higher than the firm’s “upper-end” estimate, says the analyst, who raised the firm’s peak sales estimate to about $700M from a prior forecast of $532M.