UPDATE: Oppenheimer Initiates Kamada at Outperform on Pioneering Inhaled Delivery with AAT Treatment

In a report published on Tuesday, Oppenheimer analyst David Ferreiro initiated coverage on Kamada KMDA with an Outperform rating and a price target of $14. In the report, Oppenheimer stated, "KMDA's key commercial product is Glassia, an intravenous treatment for alpha-1 antitrypsin (AAT) deficiency, a rare disorder leading to lung disease. The company's key value driver is the development of the first inhaled version of AAT. We believe such a product would be disruptive to current intravenous treatments and expand the overall AAT deficiency market. We estimate inhaled AAT could achieve peak revenues of ~$300M, a significant elevation from KMDA's current revenues of ~$74M." Kamada closed on Monday at $10.77.