Leerink Partners on Kalvista Pharmaceuticals Inc (KALV): 'we continue to view this as a launch investors should own'

Leerink Partners analyst Joseph Schwartz reiterated an Outperform rating and $22.00 price target on Kalvista Pharmaceuticals Inc (NASDAQ: KALV)

The analyst commented, "KalVista (KALV, OP) reported fourth quarter financial results, which were in-line with the preannouncement earlier this year; no guidance was provided (as expected), and we continue to view this as a launch investors should own. Sales of Ekterly (sebetralstat) as an on-demand treatment for hereditary angioedema (HAE) were $35.4M (preannouncement figure was ~$35M) in the fourth quarter, above both our and consensus estimates ahead of the preannouncement ($24.5M and $19.4M, respectively). Following approval in July 2025 (here), Ekterly generated almost $50M in total sales for the year, which places the company on a nice run rate for 2026. Moreover, based on the 1,702 patient start forms (PSFs) through February 2026, we are already seeing quite robust penetration (~20%) into the US market at an early stage. We continue to view this as a launch that investors should own. Moreover, we view the current sub- $1B valuation as relatively undemanding, given this is <2.0x our peak Ekterly sales assumption. Reiterate Outperform on KALV."

For an analyst ratings summary and ratings history on Kalvista Pharmaceuticals Inc click here. For more ratings news on Kalvista Pharmaceuticals Inc click here.

Shares of Kalvista Pharmaceuticals Inc closed at $16.46 yesterday.

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