KalVista Pharmaceuticals (NASDAQ:KALV) Now Covered by JMP Securities

Equities research analysts at JMP Securities started coverage on shares of KalVista Pharmaceuticals (NASDAQ:KALV) in a report issued on Friday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $19.00 price target on the specialty pharmaceutical company’s stock. JMP Securities’ target price points to a potential upside of 116.65% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of KalVista Pharmaceuticals in a research report on Friday, December 6th. Bank of America started coverage on KalVista Pharmaceuticals in a report on Wednesday, December 18th. They set a “buy” rating and a $22.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of KalVista Pharmaceuticals in a research note on Thursday, December 5th. TD Cowen initiated coverage on KalVista Pharmaceuticals in a research note on Tuesday, January 7th. They set a “buy” rating and a $30.00 price objective for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of KalVista Pharmaceuticals in a report on Monday, December 9th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $23.80.

KalVista Pharmaceuticals Stock Performance

NASDAQ KALV opened at $8.77 on Friday. KalVista Pharmaceuticals has a 52-week low of $7.30 and a 52-week high of $16.88. The company has a fifty day moving average of $8.86 and a 200-day moving average of $10.94. The company has a market capitalization of $433.41 million, a P/E ratio of -2.41 and a beta of 0.86.

KalVista Pharmaceuticals (NASDAQ:KALV) last issued its quarterly earnings results on Thursday, December 5th. The specialty pharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.01. As a group, analysts forecast that KalVista Pharmaceuticals will post -3.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Paul K. Audhya sold 8,077 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $9.26, for a total transaction of $74,793.02. Following the completion of the transaction, the insider now owns 94,199 shares of the company’s stock, valued at $872,282.74. This trade represents a 7.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Benjamin L. Palleiko sold 7,627 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $9.75, for a total value of $74,363.25. Following the transaction, the chief executive officer now owns 274,596 shares of the company’s stock, valued at $2,677,311. The trade was a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,291 shares of company stock worth $304,086. Company insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On KalVista Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the company. Vestal Point Capital LP raised its holdings in shares of KalVista Pharmaceuticals by 73.9% during the third quarter. Vestal Point Capital LP now owns 4,000,000 shares of the specialty pharmaceutical company’s stock valued at $46,320,000 after purchasing an additional 1,700,000 shares during the last quarter. State Street Corp grew its position in KalVista Pharmaceuticals by 68.1% in the 3rd quarter. State Street Corp now owns 1,271,609 shares of the specialty pharmaceutical company’s stock worth $14,725,000 after purchasing an additional 515,179 shares during the period. Emerald Advisers LLC raised its stake in KalVista Pharmaceuticals by 29.8% during the 3rd quarter. Emerald Advisers LLC now owns 835,988 shares of the specialty pharmaceutical company’s stock valued at $9,681,000 after buying an additional 192,091 shares during the last quarter. Readystate Asset Management LP bought a new position in shares of KalVista Pharmaceuticals during the 3rd quarter valued at $2,084,000. Finally, Emerald Mutual Fund Advisers Trust boosted its stake in shares of KalVista Pharmaceuticals by 23.0% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 650,980 shares of the specialty pharmaceutical company’s stock worth $7,538,000 after buying an additional 121,615 shares during the last quarter.

KalVista Pharmaceuticals Company Profile

KalVista Pharmaceuticals, Inc, a clinical stage pharmaceutical company, engages in the discovery, development, and commercialization of drug therapies inhibitors for diseases with unmet needs. The company’s product candidate is Sebetralstat, a small molecule plasma kallikrein inhibitor targeting the disease of hereditary angioedema (HAE).