KalVista Pharmaceuticals (NASDAQ:KALV) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of KalVista Pharmaceuticals (NASDAQ:KALV) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $35.00 price target on the specialty pharmaceutical company’s stock.

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

KalVista Pharmaceuticals Trading Up 7.3 %

KalVista Pharmaceuticals stock opened at $12.18 on Wednesday. KalVista Pharmaceuticals has a 1-year low of $7.21 and a 1-year high of $16.88. The firm’s fifty day simple moving average is $12.15 and its 200-day simple moving average is $11.37. The company has a market capitalization of $513.87 million, a P/E ratio of -3.87 and a beta of 0.88.

KalVista Pharmaceuticals (NASDAQ:KALV) last posted its earnings results on Monday, March 11th. The specialty pharmaceutical company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.09). On average, equities research analysts predict that KalVista Pharmaceuticals will post -3.05 earnings per share for the current year.

Insider Buying and Selling

In other KalVista Pharmaceuticals news, insider Edward P. Feener sold 28,288 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $14.07, for a total transaction of $398,012.16. Following the completion of the transaction, the insider now owns 62,157 shares of the company’s stock, valued at approximately $874,548.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Edward P. Feener sold 28,288 shares of KalVista Pharmaceuticals stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $14.07, for a total value of $398,012.16. Following the transaction, the insider now directly owns 62,157 shares in the company, valued at $874,548.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Benjamin L. Palleiko sold 22,802 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $14.11, for a total value of $321,736.22. Following the transaction, the chief financial officer now directly owns 187,315 shares of the company’s stock, valued at approximately $2,643,014.65. The disclosure for this sale can be found here. Insiders have sold 75,978 shares of company stock worth $1,070,918 in the last quarter. 12.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On KalVista Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Frazier Life Sciences Management L.P. raised its stake in KalVista Pharmaceuticals by 11.8% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,622,294 shares of the specialty pharmaceutical company’s stock valued at $44,373,000 after purchasing an additional 383,435 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of KalVista Pharmaceuticals by 9.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,732,489 shares of the specialty pharmaceutical company’s stock worth $16,684,000 after purchasing an additional 151,808 shares during the period. Affinity Asset Advisors LLC raised its position in shares of KalVista Pharmaceuticals by 56.1% during the third quarter. Affinity Asset Advisors LLC now owns 278,292 shares of the specialty pharmaceutical company’s stock valued at $2,680,000 after buying an additional 100,000 shares during the last quarter. Nan Fung Group Holdings Ltd lifted its stake in shares of KalVista Pharmaceuticals by 14.6% in the third quarter. Nan Fung Group Holdings Ltd now owns 234,573 shares of the specialty pharmaceutical company’s stock valued at $2,259,000 after buying an additional 29,853 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of KalVista Pharmaceuticals by 5.1% in the fourth quarter. SG Americas Securities LLC now owns 137,817 shares of the specialty pharmaceutical company’s stock valued at $1,688,000 after buying an additional 6,670 shares during the period.

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.