KalVista initiated with a Buy at JonesResearch

JonesResearch analyst Debanjana Chatterjee initiated coverage of KalVista Pharmaceuticals (KALV) with a Buy rating and $35 price target. Despite a Phase 3 win for oral sebetralstat earlier this year, the stock is down 20% year-to-date as investors are “possibly spooked” by minor nuances of efficacy data as well as emerging competition from a second oral on-demand hereditary angioedema drug, Pharvaris’ (PHVS) deucrictibant, the analyst tells investors in a research note. The firm believes the sebetralstat Phase 3 data is highly supportive of an approval into the June 17, 2025 FDA action date. Heading towards the date, JonesResearch expects the KalVista shares to climb back into the mid-teens territory.