KalVista Pharmaceuticals Inc (KALV) Received its Third Buy in a Row


After Stifel Nicolaus and Jefferies gave KalVista Pharmaceuticals Inc (NASDAQ: KALV) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Charles Duncan maintained a Buy rating on KalVista Pharmaceuticals Inc today and set a price target of $32. The company’s shares opened today at $18.99.

Duncan observed:

“We are OW with a 12-month PT of $32 on shares of KALV. In our view, increasing visibility of pipeline progress should broaden and enhance investor conviction and drive revenue projections beyond current estimates. PK/PD data for oral ‘900 showed exposure levels reaching 2x IC50 in ~20 minutes, similar to levels/timing for approved SC C1 inhibitors, thus having a profile that we view as potentially disruptive. In addition, Pkal has been identified as a VEGF-independent mediator of DME and ‘001 is being developed to target non/partial-responders to SOC #VEGF therapies. P1 data suggest ‘001 is safe, & an efficacy signal of increased BCVA was observed.”

According to TipRanks.com, Duncan is a 1-star analyst with an average return of -0.1% and a 42.3% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Corcept Therapeutics Inc.

KalVista Pharmaceuticals Inc has an analyst consensus of Strong Buy, with a price target consensus of $29.25, representing a 54.0% upside. In a report issued on October 30, Jefferies also initiated coverage with a Buy rating on the stock with a $30 price target.

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The company has a one-year high of $23.97 and a one-year low of $7.73. Currently, KalVista Pharmaceuticals Inc has an average volume of 104K.

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KalVista Pharmaceuticals, Inc. is a pharmaceutical company, which engages in the discovery, development, and commercialization of small molecule protease inhibitors. It offers small molecule plasma kallikrein for the treatment of hereditary angioedema; diabetic macular edema; and other plasma kallikrein-associated diseases.

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