Moody’s upgrades Agnico Eagle’s rating to A3 on debt reduction
Investing.com - H.C. Wainwright raised its price target on Kyverna Therapeutics Inc (NASDAQ:KYTX) to $10.00 from $5.00 on Friday, while maintaining a Buy rating on the stock. The new target represents significant upside from the current price of $3.70, with the broader analyst consensus remaining bullish at 1.43 (Strong Buy).
The price target increase follows Kyverna’s Neuroimmunology KOL event, which revealed that all three compassionate-use myasthenia gravis (MG) patients treated with KYV-101 remain in drug-free, disease-free remission.
Patient follow-up data now extends to 24 months for the first patient, 22 months for the second patient, and 15 months for the third patient, according to H.C. Wainwright.
Previously, only one patient’s status had been reported beyond 24 months, while the other two patients’ data had only been disclosed through approximately six months of follow-up.
Based on this extended durability data across multiple patients, H.C. Wainwright increased its probability of approval for KYV-101 in myasthenia gravis to 25% from the previous 20%. The company, currently valued at $151.79 million, maintains a strong liquidity position with a current ratio of 5.39.
In other recent news, Kyverna Therapeutics has been the subject of notable developments. William Blair initiated coverage on the company with an Outperform rating, setting a fair-value estimate of $27. This rating reflects optimism from the research firm regarding Kyverna’s potential in developing immune cell therapies for severe autoimmune diseases. Additionally, Kyverna has announced a significant leadership change with the appointment of Marc Grasso, M.D., as the new Chief Financial Officer. Dr. Grasso brings over 25 years of experience in public company operations, capital markets, and investment banking. He succeeds Ryan Jones, who will transition to a strategic advisor role. These recent developments suggest a period of strategic growth and organizational change for Kyverna Therapeutics.
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