KalVista price target raised to $39 from $20 at Stifel

Stifel raised the firm’s price target on KalVista to $39 from $20 and keeps a Buy rating on the shares following the successful Phase 3 readout of sebetralstat in acute hereditary angioedema, or HAE. With strong and consistent efficacy across primary and secondary endpoints that was incrementally better than the firm’s and investors’ expectations, along with a clean safety profile, the results replicated the “highly successful” phase 2, the analyst contends. The firm now models about $600M in sales at peak, versus about $400M previously.