Calliditas Therapeutics (CALT) PT Raised to $48 at Stifel

June 22, 2021 7:41 AM EDT
Get Alerts CALT Hot Sheet
Price: $28.80 -0.17%

Rating Summary:
    2 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 26 | New: 11
Trade Now! 
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

Stifel analyst Annabel Samimy raised the price target on Calliditas Therapeutics (NASDAQ: CALT) to $48.00 (from $42.00) while maintaining a Buy rating, citing strong clinical profile of its lead drug Nefecon and its acceptance by the FDA for priority review.

Following meetings with CALT's management, the analyst notes: "1) Nefecon’s clinical profile and significance
of priority review, 2) commercial preparedness and 3) competitive positioning in a burgeoning IgAN landscape. Most notable is Nefecon’s NDA acceptance under priority review in light of an already accelerated regulatory pathway and other similar programs not receiving the same advantage—in our view signaling that FDA sees the MoA, proteinuria reductions and eGFR stability as potentially having an impact on underlying disease and long-term kidney function . With possible September approval, CALT has turned its efforts to raising awareness with KOLs/physicians and preparing a seamless launch. While the competitive landscape remains active, we continue to view Nefecon well-positioned as the lead IgAN program with the most comprehensive data to date, which we believe remains elusive to the Street. Reiterate Buy, raise TP to $48"



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst PT Change

Related Entities

Stifel, FDA