Needham analyst Serge Belanger maintained a Buy rating on KalVista Pharmaceuticals (KALV – Research Report) today and set a price target of $35.00.
Serge Belanger has given his Buy rating due to a combination of factors surrounding KalVista Pharmaceuticals’ strategic focus and financial positioning. KalVista’s plan to file multiple regulatory submissions for sebetralstat in 2024, with the anticipation of commercial launches in the following years, represents a significant milestone. Moreover, the company’s efforts to extend the lifecycle of sebetralstat through the development of an orally disintegrating tablet formulation, coupled with a strategic reallocation of resources towards commercialization efforts, are noteworthy. These steps are seen as pivotal in driving the company towards cash flow positivity within a few years post-launch.
Furthermore, the successful completion of an equity financing round has bolstered KalVista’s operational runway into 2026, ensuring they have the necessary capital to execute their plans. The high efficacy and safety profile demonstrated by sebetralstat in the phase 3 KONFIDENT trial sets a challenging standard for competitors and positions it favorably as a potential first-line on-demand treatment for hereditary angioedema (HAE). With the HAE market currently valued at $900 million and sebetralstat potentially leading the market against injectable treatments, the financial prospects for KalVista appear promising, substantiating Belanger’s Buy rating and $35 price target.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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.
