In a report released today, Rami Katkhuda from LifeSci Capital maintained a Buy rating on Calliditas Therapeutics (CALT – Research Report), with a price target of $44.00.
Rami Katkhuda’s rating is based on the strong financial performance and promising market prospects of Calliditas Therapeutics. The company’s recent earnings report indicates a positive cash flow from operating activities, which is a significant milestone. Moreover, the fourth quarter showed robust net sales from Tarpeyo, their treatment for IgA Nephropathy (IgAN), amounting to $32.6M. The year 2023 closed with an encouraging $101.4M in sales for Tarpeyo. These financials, combined with the high number of new patient enrollments, suggest a solid commercial trajectory for the company’s product.
Furthermore, the full approval of Tarpeyo by the FDA, following impressive Phase III trial results, underscores its clinical value in reducing kidney function loss in IgAN patients. This approval could lead to its inclusion in the KDIGO guidelines, which would likely enhance the drug’s market penetration. Despite anticipated early market access challenges, management’s sales forecast of $150-180M for Tarpeyo in 2024 indicates confidence in the drug’s growth potential. Katkhuda’s Buy rating reflects these favorable developments and the drug’s potential to significantly impact Calliditas’s financial health and its stock value.
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Calliditas Therapeutics (CALT) Company Description:
Calliditas Therapeutics AB operates as a specialty pharmaceutical company in Sweden. The company is engaged in the provision of pharmaceutical products for patients with niche indications. It is focused on the development and commercialization of the product candidate Nefecon intended for the treatment of patients with the inflammatory renal disease IgA nephropathy, a disease that causes chronic inflammation of the kidneys.
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