Jonathan Wolleben, an analyst from JMP Securities, reiterated the Buy rating on KalVista Pharmaceuticals (KALV – Research Report). The associated price target remains the same with $19.00.
Jonathan Wolleben has given his Buy rating due to a combination of factors surrounding KalVista Pharmaceuticals’ promising oral treatment for hereditary angioedema (HAE), sebetralstat. The drug has shown strong potential to revolutionize the on-demand HAE market, particularly with its new supportive data for use in adolescents and for treating laryngeal attacks. This is significant as current treatments are cumbersome injectables, leading to delays in treatment. The oral nature of sebetralstat offers a more convenient and effective option, which is expected to gain substantial market share.
Wolleben’s confidence is further bolstered by the positive Phase 3 data, suggesting a high likelihood of approval by the upcoming PDUFA date. The analyst highlights that the drug’s brand name, Ekterly, emphasizes the importance of early treatment, which aligns with allergists’ understanding that early intervention leads to better outcomes. Additionally, a survey of U.S. allergists indicates a strong preference for an oral treatment, suggesting that sebetralstat could significantly expand the on-demand market with potential for premium pricing and rapid adoption.
Wolleben covers the Healthcare sector, focusing on stocks such as Structure Therapeutics, Inc. Sponsored ADR, Larimar Therapeutics, and BioCryst. According to TipRanks, Wolleben has an average return of 4.4% and a 39.79% success rate on recommended stocks.