KalVista Pharmaceuticals (NASDAQ:KALV) Hits New 52-Week High Following Analyst Upgrade

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) shares hit a new 52-week high on Friday after HC Wainwright raised their price target on the stock from $27.00 to $37.00. HC Wainwright currently has a buy rating on the stock. KalVista Pharmaceuticals traded as high as $18.00 and last traded at $18.48, with a volume of 37238 shares changing hands. The stock had previously closed at $15.82.

A number of other brokerages have also weighed in on KALV. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of KalVista Pharmaceuticals in a research note on Wednesday, October 8th. Citizens Jmp lowered their price objective on shares of KalVista Pharmaceuticals from $29.00 to $28.00 and set a “market outperform” rating for the company in a report on Tuesday, November 11th. Cowen reaffirmed a “buy” rating on shares of KalVista Pharmaceuticals in a research report on Wednesday, December 3rd. Citigroup reissued a “market outperform” rating on shares of KalVista Pharmaceuticals in a research report on Tuesday, November 11th. Finally, Wall Street Zen upgraded KalVista Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.17.

Insider Activity

In other news, CEO Benjamin L. Palleiko sold 10,940 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $13.45, for a total transaction of $147,143.00. Following the transaction, the chief executive officer directly owned 416,189 shares of the company’s stock, valued at $5,597,742.05. This represents a 2.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul K. Audhya sold 5,296 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $13.45, for a total transaction of $71,231.20. Following the transaction, the insider owned 131,831 shares in the company, valued at $1,773,126.95. This represents a 3.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 31,329 shares of company stock worth $437,371 over the last three months. 4.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On KalVista Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Emerald Mutual Fund Advisers Trust grew its holdings in shares of KalVista Pharmaceuticals by 26.4% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 768,972 shares of the specialty pharmaceutical company’s stock valued at $8,693,000 after purchasing an additional 160,759 shares in the last quarter. Emerald Advisers LLC raised its stake in KalVista Pharmaceuticals by 15.6% during the second quarter. Emerald Advisers LLC now owns 1,038,049 shares of the specialty pharmaceutical company’s stock valued at $11,735,000 after purchasing an additional 139,859 shares in the last quarter. Woodline Partners LP raised its stake in KalVista Pharmaceuticals by 25.5% during the first quarter. Woodline Partners LP now owns 1,617,469 shares of the specialty pharmaceutical company’s stock valued at $18,666,000 after purchasing an additional 329,068 shares in the last quarter. Stonepine Capital Management LLC lifted its position in KalVista Pharmaceuticals by 364.0% during the second quarter. Stonepine Capital Management LLC now owns 100,000 shares of the specialty pharmaceutical company’s stock valued at $1,130,000 after purchasing an additional 78,450 shares during the last quarter. Finally, F m Investments LLC grew its stake in shares of KalVista Pharmaceuticals by 263.8% in the 2nd quarter. F m Investments LLC now owns 182,262 shares of the specialty pharmaceutical company’s stock worth $2,060,000 after buying an additional 132,165 shares in the last quarter.

KalVista Pharmaceuticals Stock Up 14.6%

The business’s 50 day simple moving average is $14.45 and its 200 day simple moving average is $13.55. The company has a current ratio of 7.22, a quick ratio of 7.21 and a debt-to-equity ratio of 8.18. The firm has a market capitalization of $916.65 million, a PE ratio of -4.62 and a beta of -0.14.

KalVista Pharmaceuticals (NASDAQ:KALV) last announced its quarterly earnings results on Monday, November 10th. The specialty pharmaceutical company reported ($0.92) EPS for the quarter, beating analysts’ consensus estimates of ($0.96) by $0.04. The business had revenue of $13.69 million during the quarter, compared to the consensus estimate of $6.03 million. On average, equities research analysts forecast that KalVista Pharmaceuticals, Inc. will post -3.56 earnings per share for the current year.

About KalVista Pharmaceuticals

KalVista Pharmaceuticals is a clinical‐stage biotechnology company focused on the discovery and development of small‐molecule protease inhibitors for orphan and specialty disease indications. The firm’s scientific platform centers on selective inhibition of plasma kallikrein, a serine protease implicated in disorders characterized by vascular leak, edema and inflammation. KalVista’s approach leverages oral and intravitreal delivery formats to target both systemic and ophthalmic conditions.

The company’s lead programs include an oral plasma kallikrein inhibitor in clinical trials for the acute treatment of hereditary angioedema (HAE) attacks and an intravitreal kallikrein inhibitor being evaluated for diabetic macular edema.