Bullish indicating open at $55-$60, IPO prices at $37
On Tuesday, TD Cowen began coverage of Kalvista Pharmaceuticals Inc (NASDAQ:KALV), assigning the stock a Buy rating and setting a price target of $30.00. The initiation is based on the potential of Kalvista's drug sebetralstat, which is being developed as the first oral acute therapy for Hereditary Angioedema (HAE) attacks.
Sebetralstat is poised to meet a significant market demand, according to TD Cowen's analysis. The firm's consultants anticipate a strong patient preference for an oral medication that is effective in treating acute HAE attacks. They also note that sebetralstat could benefit from being the first of its kind in the market, potentially leading to increased usage in the acute setting.
The analysts at TD Cowen express high confidence in the successful launch of sebetralstat, projecting that the drug could achieve over $750 million in peak sales. This optimistic sales forecast underscores the firm's belief in the drug's market potential and the company's ability to capitalize on the opportunity.
Kalvista Pharmaceuticals focuses on the discovery, development, and commercialization of small molecule protease inhibitors. The positive outlook from TD Cowen comes as a boost for the company, which is currently working towards bringing sebetralstat to patients in need of a novel treatment option for HAE attacks.
The coverage initiation by TD Cowen is an important development for investors and stakeholders in Kalvista Pharmaceuticals, as it highlights the potential value and impact of the company's lead drug candidate. With the Buy rating and a price target of $30.00, TD Cowen signals its optimism about the company's prospects and the anticipated commercial success of sebetralstat.
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