KalVista Pharmaceuticals (KALV – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on February 1. Analyst Joseph Schwartz from Leerink Partners maintained a Buy rating on the stock and has a $20.00 price target.
Joseph Schwartz has given his Buy rating due to a combination of factors surrounding KalVista Pharmaceuticals’ ongoing efforts and potential in the market. The company is developing sebetralstat (KVD900) for the acute treatment of hereditary angioedema (HAE) attacks, and despite a slight delay in the expected data readout from the Phase 3 KONFIDENT study, Schwartz remains optimistic. The delay from the fourth quarter of 2023 to early 2024 has not shaken his confidence, as it aligns with the patterns observed in previous phases of the study. Schwartz’s analysis suggests that, given the larger scale and complexity of the KONFIDENT study compared to the Phase 2 trial, a minor delay in data cleanliness and analysis is reasonable.
Furthermore, Schwartz notes that despite uncertainties regarding the exact timing of the data release, KalVista’s stock has shown robust performance, outpacing the market year to date. His expectation is that positive results from the study could lead to a significant rise in the stock’s value, underpinning the excitement surrounding the HAE treatment space. On the flip side, he acknowledges an increased potential downside, adjusting the risk-reward balance accordingly. Nevertheless, he maintains a positive outlook for the stock, reiterating an Outperform rating with a $20 price target, suggesting a strong conviction in the company’s prospects.
KALV’s price has also changed dramatically for the past six months – from $10.660 to $15.740, which is a 47.65% increase.
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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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