Fiserv earnings missed by $0.61, revenue fell short of estimates
Investing.com - H.C. Wainwright raised its price target on Kyverna Therapeutics Inc (NASDAQ:KYTX) to $20.00 from $10.00 on Monday, while maintaining a Buy rating on the stock. The company, currently trading at $7.44 and approaching its 52-week high of $7.73, has seen remarkable momentum with a 215% surge over the past six months.
The firm increased its probability of approval for KYV-101 in myasthenia gravis (MG) to 35% from 25%, citing "remarkable durability and immediacy of responses" observed in all three compassionate-use MG patients.
H.C. Wainwright noted that KYV-101 has demonstrated "clean, potent activity" in refractory rheumatoid arthritis and "encouraging early signals" in multiple sclerosis.
The new price target reflects a $1 billion enterprise value for Kyverna, which the firm views as "highly achievable" as KYV-101 builds a record of efficacy across multiple inflammation and immunology indications.
The firm emphasized that the mounting successes with KYV-101 strengthen its view that the treatment is "one of the few credible, cross-indication CAR-Ts" in the inflammation and immunology space.
In other recent news, Kyverna Therapeutics reported promising results from its CAR T-cell therapy KYV-101 in a Phase 1 trial for difficult-to-treat rheumatoid arthritis. The trial, conducted by Charité, University of Berlin, showed a significant reduction in disease-associated autoantibodies among the six patients involved. Additionally, Kyverna is set to present interim Phase 2 data for KYV-101 in generalized myasthenia gravis at an upcoming medical conference. Wells Fargo recently raised its price target for Kyverna Therapeutics to $27, citing a favorable risk-reward profile for its pivotal trial in stiff person syndrome. Meanwhile, H.C. Wainwright reiterated its Buy rating with a $10 price target, highlighting the potential of KYV-101 in progressive multiple sclerosis. In corporate governance news, Kyverna announced the resignation of board member Steve Liapis, Ph.D., effective September 30, 2025. Following his departure, the board will reduce from eight to seven members, with Christi Shaw appointed to the Audit Committee.
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