Kamada initiated with a Buy at Stifel

Stifel initiated coverage of Kamada with a Buy rating and $18 price target. Kamada is an emerging Israeli-based, global player in the specialty plasma business, the analyst tells investors in a research note. While the company’s base business is steady and profitable, Stifel is more intrigued by “its development of Inhaled alpha-1 antitrypsin/AAT for the treatment of AAT deficiency/AATD-a rare, genetic, and progressive lung disease,” which the firm believes is the most underappreciated component of Kamada’s story.