HC Wainwright Cuts KalVista Pharmaceuticals (NASDAQ:KALV) Price Target to $20.00

KalVista Pharmaceuticals (NASDAQ:KALV) had its price target reduced by HC Wainwright from $24.00 to $20.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the specialty pharmaceutical company’s stock. HC Wainwright’s target price points to a potential upside of 64.88% from the company’s previous close.

Separately, Needham & Company LLC reissued a “buy” rating and issued a $35.00 price target on shares of KalVista Pharmaceuticals in a report on Wednesday.

KalVista Pharmaceuticals Stock Down 0.3 %

NASDAQ:KALV traded down $0.04 during trading hours on Friday, reaching $12.13. 199,656 shares of the stock were exchanged, compared to its average volume of 697,894. The firm has a 50 day simple moving average of $12.13 and a 200-day simple moving average of $11.38. KalVista Pharmaceuticals has a 52 week low of $7.21 and a 52 week high of $16.88. The stock has a market capitalization of $511.76 million, a P/E ratio of -3.85 and a beta of 0.92.

KalVista Pharmaceuticals (NASDAQ:KALV) last announced its quarterly earnings results on Monday, March 11th. The specialty pharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.09). As a group, analysts expect that KalVista Pharmaceuticals will post -3.05 earnings per share for the current year.

Insider Activity

In other news, major shareholder Venrock Healthcare Capital Par purchased 4,474 shares of the stock in a transaction dated Tuesday, February 6th. The shares were bought at an average cost of $14.74 per share, for a total transaction of $65,946.76. Following the transaction, the insider now owns 4,743,157 shares in the company, valued at $69,914,134.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Venrock Healthcare Capital Par purchased 4,474 shares of the stock in a transaction dated Tuesday, February 6th. The shares were bought at an average cost of $14.74 per share, for a total transaction of $65,946.76. Following the transaction, the insider now owns 4,743,157 shares in the company, valued at $69,914,134.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Benjamin L. Palleiko sold 22,802 shares of KalVista Pharmaceuticals stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $14.11, for a total value of $321,736.22. Following the transaction, the chief financial officer now owns 187,315 shares in the company, valued at $2,643,014.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,978 shares of company stock worth $1,070,918. 12.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On KalVista Pharmaceuticals

Several large investors have recently modified their holdings of KALV. Bank of New York Mellon Corp boosted its stake in shares of KalVista Pharmaceuticals by 1.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 84,309 shares of the specialty pharmaceutical company’s stock worth $812,000 after acquiring an additional 1,508 shares in the last quarter. Strs Ohio bought a new stake in shares of KalVista Pharmaceuticals during the 3rd quarter worth $104,000. Principal Financial Group Inc. bought a new stake in shares of KalVista Pharmaceuticals during the 3rd quarter worth $109,000. New York State Common Retirement Fund boosted its stake in shares of KalVista Pharmaceuticals by 1,860.4% during the 3rd quarter. New York State Common Retirement Fund now owns 9,959 shares of the specialty pharmaceutical company’s stock worth $96,000 after acquiring an additional 9,451 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of KalVista Pharmaceuticals during the 3rd quarter worth $31,000.

About KalVista Pharmaceuticals

KalVista Pharmaceuticals, Inc, a clinical stage pharmaceutical company, engages in the discovery, development, and commercialization of small molecule protease inhibitors for diseases with unmet needs in the United States. The company's product portfolio comprises small molecule plasma kallikrein inhibitors targeting hereditary angioedema (HAE) and diabetic macular edema (DME); and oral plasma kallikrein inhibitors.