Analyst Michael Ulz of Morgan Stanley reiterated a Buy rating on Kyverna Therapeutics, Inc., retaining the price target of $20.00.
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Michael Ulz has given his Buy rating due to a combination of factors, primarily the promising clinical data from Kyverna Therapeutics’ KYV-101 in the treatment of rheumatoid arthritis (RA). The Phase 1 investigator-initiated trial demonstrated a favorable safety profile, with no high-grade cytokine release syndrome or immune cell-associated neurotoxicity syndrome observed. Additionally, the trial showed significant clinical activity, with four out of six patients achieving an ACR20 response and two meeting the more stringent ACR50 criteria.
These early signs of efficacy and safety are encouraging, particularly given the large market opportunity in RA. The positive results support the initiation of the Phase 2 portion of the COMPARE trial, which has already completed enrollment and is ongoing. Furthermore, upcoming data presentations, such as the efficacy and safety data from Phase 2 KYSA-6 in myasthenia gravis, are anticipated to further build on these positive outcomes. Overall, these factors contribute to the optimistic outlook for Kyverna Therapeutics and justify the Buy rating.
Ulz covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Rhythm Pharmaceuticals, and Kyverna Therapeutics, Inc.. According to TipRanks, Ulz has an average return of 5.5% and a 44.97% success rate on recommended stocks.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $20.00 price target.