KalVista Pharmaceuticals (NASDAQ:KALV) Stock Rating Reaffirmed by Needham & Company LLC

KalVista Pharmaceuticals (NASDAQ:KALV)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $35.00 price target on the specialty pharmaceutical company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 188.54% from the company’s previous close.

Separately, HC Wainwright increased their target price on KalVista Pharmaceuticals from $16.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th.

KalVista Pharmaceuticals Stock Performance

KALV traded down $0.04 during mid-day trading on Wednesday, reaching $12.13. The stock had a trading volume of 199,656 shares, compared to its average volume of 697,894. The firm’s fifty day simple moving average is $12.13 and its two-hundred day simple moving average is $11.38. 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 has a 52 week low of $7.21 and a 52 week high of $16.88.

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

Insider Activity at KalVista Pharmaceuticals

In other news, major shareholder Venrock Healthcare Capital Par acquired 4,474 shares of KalVista Pharmaceuticals stock in a transaction dated Tuesday, February 6th. The stock was bought at an average price of $14.74 per share, for a total transaction of $65,946.76. Following the completion of the acquisition, the insider now directly owns 4,743,157 shares in the company, valued at approximately $69,914,134.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Benjamin L. Palleiko sold 22,802 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 187,315 shares in the company, valued at approximately $2,643,014.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Venrock Healthcare Capital Par acquired 4,474 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased at an average cost of $14.74 per share, for a total transaction of $65,946.76. Following the completion of the purchase, the insider now directly owns 4,743,157 shares of the company’s stock, valued at $69,914,134.18. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 75,978 shares of company stock worth $1,070,918. Insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Quantbot Technologies LP bought a new position in KalVista Pharmaceuticals in the third quarter valued at about $31,000. Tower Research Capital LLC TRC lifted its stake in KalVista Pharmaceuticals by 28.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,482 shares of the specialty pharmaceutical company’s stock valued at $43,000 after purchasing an additional 768 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new position in KalVista Pharmaceuticals in the 4th quarter valued at approximately $49,000. AJOVista LLC acquired a new stake in shares of KalVista Pharmaceuticals during the fourth quarter valued at about $60,000. Finally, New York State Common Retirement Fund increased its position in KalVista Pharmaceuticals by 1,860.4% in the 3rd quarter. New York State Common Retirement Fund now owns 9,959 shares of the specialty pharmaceutical company’s stock valued at $96,000 after acquiring an additional 9,451 shares during the period.

KalVista Pharmaceuticals Company Profile

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.