Calliditas Therapeutics (CALT) PT Raised to $58 at Jefferies

Jefferies analyst Maury Raycroft raised the price target on Calliditas Therapeutics (NASDAQ: CALT) to $58.00 (from $57.00) while maintaining a Buy rating.

The analyst comments "1Q sales came in light in-line w/ expectations, but PSF growth & 2Q sales to date are strong -- co reiterated $150-180M guidance, which factors in stronger 2H once payer policies are updated w/ the broad label. Also, new label allowed ODD exclusivity extension through Dec 2030 (vs Dec 2028 prior). EMA opinion is expected shortly. R&D Day May 30 to review setanaxib data+dev path and Tarpeyo's IgAN profile along w/ recent ph.III OLE data."

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