KalVista Pharma (KALV) Stock Forecast & Price Target

KalVista Pharmaceuticals Inc. is well-positioned for growth, driven by strong early demand for its FDA-approved product EKTERLY, which has recorded 460 start forms corresponding to approximately 4% of the diagnosed U.S. hereditary angioedema (HAE) population within the initial eight weeks of launch. The company's substantial cash reserves of $191 million provide a financial runway into 2027, allowing for continued investment in product development and operational scalability. While the on-demand HAE market is stabilizing, KalVista’s focus on differentiating its offerings, along with its potential revenue of around $31 million linked to early prescriber confidence in EKTERLY, underscores a fundamentally positive outlook for the company's future.

KalVista Pharmaceuticals faces substantial financial risks, as the company is likely to incur net losses through the early launch phase of its FDA-approved product, sebetralstat, with limited pipeline options for future growth if the product underperforms. Additionally, the anticipated Phase 3 trial results for deucrictibant have created uncertainty surrounding the stock, reflected in a significant short interest of approximately 38% of its float. Furthermore, the company's operational expenses exceeded both consensus and prior estimates, raising concerns about its financial management and sustainability, despite currently having a cash runway projected into 2027.