Leerink Partners analyst Joseph Schwartz maintained a Buy rating on KalVista Pharmaceuticals (KALV – Research Report) on December 7 and set a price target of $20.00.
Joseph Schwartz has given his Buy rating due to a combination of factors surrounding KalVista Pharmaceuticals’ progress and potential. The company’s Phase 3 KONFIDENT study for their lead drug, sebetralstat, is on track with data expected early in 2024, an event anticipated to significantly influence the stock’s valuation. Schwartz views the stock’s potential upside to be around 75% if the Phase 3 results are consistent with the positive Phase 2 outcomes. He considers KalVista’s market capitalization under $600 million to be a very reasonable valuation, especially in light of the estimated peak sales for sebetralstat.
Furthermore, Schwartz’s optimistic assessment is bolstered by comparisons with competitor drugs, including Pharvaris’ recent positive Phase 2 data, suggesting a promising market opportunity for sebetralstat. KalVista’s financial position, with over $100 million in cash and equivalents reported in their second fiscal quarter, supports the company’s continued operations. Schwartz’s confidence is also reflected in the unchanged 12-month price target of $20, reiterating an Outperform rating based on the anticipated pivotal study results and the company’s promising financial health.
In another report released on December 8, H.C. Wainwright also reiterated a Buy rating on the stock with a $16.00 price target.
KALV’s price has also changed slightly for the past six months – from $9.880 to $8.970, which is a -9.21% drop .
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KalVista Pharmaceuticals (KALV) Company Description:
KalVista Pharmaceuticals, Inc. is a clinical stage pharmaceutical company, which engages in the discovery, development, and commercialization of small molecule protease inhibitors. Its product candidates are inhibitors of plasma kallikrein being developed for two indications: hereditary angioedema (HAE) and diabetic macular edema (DME). The company was founded by T. Andrew Crockett, Edward P. Feener, and Lloyd Paul Aiello and is headquartered in Cambridge, MA.
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