William Blair analyst Lachlan Hanbury Brown has maintained their bullish stance on KLRS stock, giving a Buy rating today.
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Lachlan Hanbury Brown has given his Buy rating due to a combination of factors surrounding the development of Kalaris Therapeutics’ TH103 for treating neovascular age-related macular degeneration (nAMD). The initiation of a Phase Ib/II study marks a significant step forward, building on the ongoing Phase Ia study, with top-line data anticipated in the fourth quarter. This progression suggests promising data from the initial trials, which supports the company’s decision to advance to the next phase.
Furthermore, the new study design aims to provide more comprehensive data on TH103, potentially accelerating its development towards pivotal studies. The expectation is that TH103 could offer improved outcomes and longer treatment intervals compared to existing anti-VEGF therapies, which could position it favorably in the market. The combination of these factors underpins the optimism reflected in the Buy rating, highlighting the potential of TH103 to meet unmet needs in retinal vascular diseases.
In another report released today, Raymond James also maintained a Buy rating on the stock with a $23.00 price target.