Leerink raises Kyverna price target, says KYSA-8 study results transformative

Leerink raised the firm’s price target on Kyverna Therapeutics (KYTX) to $32 from $25 and keeps an Outperform rating on the shares after the company reported results from the KYSA-8 study of mivocabtagene-autoleucel. Leerink told investors that these results are transformative and represent an important advancement for stiff person syndrome patients who have no approved FDA therapies and substantial unmet medical need. The firm added that it is not surprised by strength in shares and sees an “attractive” catalyst path.