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Investing.com - Leerink Partners has reiterated an Outperform rating and $20.00 price target on Kalvista Pharmaceuticals Inc (NASDAQ:KALV) following the company’s fiscal fourth-quarter 2025 financial results and corporate update. The stock has surged 33% in the past week and currently trades near its 52-week high of $16.14. According to InvestingPro data, analysts’ targets range from $20 to $40.
The U.S. launch for Ekterly (sebetralstat) is now underway after receiving FDA approval earlier this week as the first and only on-demand oral treatment for hereditary angioedema (HAE) attacks in adult and pediatric patients aged 12 years and older.
Ekterly carries a wholesale acquisition cost of $16,720 per dose and is being sold in packages of four tablets, with each package covering two HAE attacks. Leerink Partners projects fiscal year 2026 U.S. sales of $34.0 million, representing the first ten months of the launch from July 2025 to April 2026.
Internationally, Kalvista expects an EMA decision and targeted launch in Germany in the second half of 2025, followed by launches in Japan and the United Kingdom (TADAWUL:4280) next year. The company has entered into commercialization agreements with Kaken Pharmaceutical (TADAWUL:2070) for Japan and Pendopharm for Canada.
Leerink Partners remains positive on Kalvista and Ekterly, citing the potential to treat HAE attacks with an oral medication and the company’s strong cash balance to support the launch.
In other recent news, KalVista Pharmaceuticals has received FDA approval for Ekterly (sebetralstat), the first oral on-demand treatment for hereditary angioedema (HAE). This approval marks a significant development for HAE patients, who previously relied solely on injectable treatments for acute attacks. KalVista has set the wholesale acquisition cost of Ekterly at $16,720 per dose, with expectations that about 22% of attacks may require two doses. Following the approval, JMP Securities raised its price target for KalVista to $27, projecting peak sales of approximately $740 million for Ekterly. Similarly, BofA Securities increased its price target to $37, citing Ekterly’s unique position in the HAE market. Leerink Partners also adjusted its price target to $20, maintaining an Outperform rating after the FDA’s decision. Stifel reiterated a Buy rating with a $39 price target, highlighting the favorable market adoption prospects due to Ekterly’s "near-pristine label." KalVista has initiated commercial preparations, including patient support programs, and anticipates further regulatory decisions in Europe and other regions.
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