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Investing.com - BofA Securities has raised its price target on KalVista Pharmaceuticals Inc (NASDAQ:KALV) to $37.00 from $22.00 while maintaining a Buy rating following the approval of the company’s hereditary angioedema (HAE) treatment. According to InvestingPro data, analysts remain highly bullish on the stock, with price targets ranging from $18 to $39, while the stock has gained over 41% year-to-date.
The FDA approved Ekterly (sebetralstat) for on-demand treatment of HAE with a broad label for patients 12 and older, regardless of attack type or background long-term prophylactic usage. The approval includes provisions for redosing after three hours, which KalVista expects will apply to approximately 23% of cases based on real-world data.
KalVista has set Ekterly’s price at $16,720 per dose, exceeding BofA’s previous estimate of approximately $12,800. The medication’s label notes interactions with strong and moderate CYP3A4 inhibitors and inducers, though the company expects minimal impact from these interactions.
BofA Securities highlighted Ekterly’s unique position as the only oral on-demand treatment available in the HAE market, which it believes will drive uptake among patients. The approval and broad label align with the firm’s expectations.
The investment bank will monitor initial launch metrics in coming quarters to assess the pace of the launch and market dynamics as this oral treatment enters the on-demand HAE space.
In other recent news, KalVista Pharmaceuticals has received FDA approval for Ekterly (sebetralstat), marking it as the first oral on-demand treatment for hereditary angioedema (HAE) in patients aged 12 and older. This approval is based on the results from the KONFIDENT phase 3 trial, which showed significantly faster symptom relief and attack resolution compared to placebo. Following the approval, Stifel reiterated its Buy rating for KalVista, setting a price target of $39.00 and noting a favorable market adoption due to Ekterly’s rapid re-dosing capability. KalVista has set the wholesale acquisition cost for Ekterly at approximately $17,000 per dose, with some patients potentially requiring two doses per attack. The company plans to launch Ekterly immediately in the U.S., supported by the KalVista Cares program for patient assistance. Additionally, KalVista has granted Pendopharm exclusive rights to manage regulatory approval and commercialization of sebetralstat in Canada. The company is also conducting studies for children aged two to 11 and has regulatory applications under review in other markets. Despite a previous delay in the FDA’s decision due to resource constraints, no additional data or studies were requested, and no efficacy or safety concerns were raised.
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