Leerink Partners analyst Joseph Schwartz has reiterated their bullish stance on KALV stock, giving a Buy rating on April 8.
Joseph Schwartz has given his Buy rating due to a combination of factors that highlight KalVista Pharmaceuticals’ promising outlook. The recent licensing agreement with Kaken Pharmaceutical to commercialize sebetralstat in Japan provides KalVista with non-dilutive funding, which is crucial ahead of the PDUFA action date in June 2025. This agreement not only brings in an upfront payment but also sets the stage for additional milestone payments and royalties, enhancing the company’s financial stability and growth potential.
Moreover, KalVista’s stock has been a strong performer, outpacing broader market indices, which indicates investor confidence in the company’s strategic direction. The potential for sebetralstat in the hereditary angioedema market, combined with the company’s successful execution of shareholder-friendly transactions, positions KalVista well for future success. Schwartz views these developments as positive indicators of the company’s ability to capitalize on commercial opportunities, thus justifying the Buy rating.
In another report released on April 8, Needham also maintained a Buy rating on the stock with a $28.00 price target.
Based on the recent corporate insider activity of 26 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.