UPDATE: Jefferies Initiates Coverage on Kamada with Buy Rating, $15 PT on Solid Foundation

In a report published Tuesday, Jefferies analyst Raj Denhoy initiated coverage on Kamada KMDA with a Buy rating and $15.00 price target. In the report, Jefferies noted, “Kamada's core plasma protein extraction and distribution businesses provide a solid foundation but the investment story is squarely in the development of an inhalable version of alpha 1 antitrypsin. Data on the seminal European study will be available in January and should it prove successful, as we think it will, it will be transformative to the company's prospects. We rate shares Buy with a $15 price target.” Kamada closed on Monday at $10.50.