Analyst Serge Belanger of Needham maintained a Buy rating on KalVista Pharmaceuticals (KALV – Research Report), with a price target of $35.00.
Serge Belanger has given his Buy rating due to a combination of factors pertaining to KalVista Pharmaceuticals’ recent clinical successes and market potential. Primarily, KalVista’s Phase 3 KONFIDENT trial for their drug Sebetralstat achieved all endpoints, demonstrating consistent and robust efficacy in a larger and more diverse patient population. This achievement replicated positive Phase 2 trial results and showed comparable effectiveness to the last FDA-approved on-demand treatment for hereditary angioedema (HAE), highlighting the drug’s potential as a strong competitor in the market.
The promising trial outcomes suggest Sebetralstat could become the preferred first-line on-demand treatment for HAE, particularly given its oral administration, which is likely to be favored over injectable options. This favorable outlook led to an increase in the price target for KalVista’s stock to $35, up from $22, acknowledging the lowered investment risk and the drug’s “game-changing potential” in the HAE treatment landscape. Belanger’s rating reflects confidence in the drug’s commercial prospects and its significance in improving patient care for those affected by HAE.
In another report released today, Stifel Nicolaus also maintained a Buy rating on the stock with a $39.00 price target.
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Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KALV in relation to earlier this year.
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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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