KalVista Pharmaceuticals (NASDAQ:KALV) Upgraded to “Buy” at Zacks Investment Research

KalVista Pharmaceuticals (NASDAQ:KALVGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The brokerage presently has a $12.00 price target on the specialty pharmaceutical company’s stock. Zacks Investment Research‘s price target points to a potential upside of 23.84% from the stock’s previous close.

According to Zacks, “KalVista Pharmaceuticals, Inc. is a pharmaceuticals company. It engages in discovery, development and commercialization of small molecule protease inhibitors for diseases with significant unmet need. Its product portfolio consist hereditary angioedema and diabetic macular edema, KVD818 and KVD001, which are in clinical stage. KalVista Pharmaceuticals, Inc., formerly known as Carbylan Therapeutics, Inc., is headquartered in Cambridge, United States. “

Several other equities analysts have also recently weighed in on the company. Roth Capital reissued a “buy” rating on shares of KalVista Pharmaceuticals in a research report on Tuesday, March 8th. Needham & Company LLC cut their price objective on KalVista Pharmaceuticals from $48.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, March 11th. Finally, HC Wainwright reissued a “buy” rating and set a $48.00 price objective on shares of KalVista Pharmaceuticals in a research report on Friday, March 11th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $38.25.

Shares of NASDAQ:KALV opened at $9.69 on Thursday. KalVista Pharmaceuticals has a fifty-two week low of $9.35 and a fifty-two week high of $30.70. The business has a 50-day moving average of $14.34 and a two-hundred day moving average of $14.50. The stock has a market capitalization of $237.82 million, a P/E ratio of -3.20 and a beta of 1.79.

KalVista Pharmaceuticals (NASDAQ:KALVGet Rating) last announced its quarterly earnings results on Thursday, March 10th. The specialty pharmaceutical company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.01). As a group, equities analysts forecast that KalVista Pharmaceuticals will post -3.45 earnings per share for the current fiscal year.

In other news, CEO Thomas Andrew Crockett sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $17.07, for a total value of $170,700.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 6.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in KALV. BNP Paribas Arbitrage SA grew its stake in shares of KalVista Pharmaceuticals by 32.6% in the 4th quarter. BNP Paribas Arbitrage SA now owns 4,772 shares of the specialty pharmaceutical company’s stock valued at $63,000 after purchasing an additional 1,173 shares during the period. Royal Bank of Canada grew its stake in shares of KalVista Pharmaceuticals by 62.2% in the 2nd quarter. Royal Bank of Canada now owns 2,900 shares of the specialty pharmaceutical company’s stock valued at $70,000 after purchasing an additional 1,112 shares during the period. JPMorgan Chase & Co. grew its stake in shares of KalVista Pharmaceuticals by 18.2% in the 4th quarter. JPMorgan Chase & Co. now owns 10,747 shares of the specialty pharmaceutical company’s stock valued at $142,000 after purchasing an additional 1,656 shares during the period. GSA Capital Partners LLP acquired a new position in shares of KalVista Pharmaceuticals in the 4th quarter worth approximately $152,000. Finally, California State Teachers Retirement System boosted its holdings in shares of KalVista Pharmaceuticals by 14.6% in the 4th quarter. California State Teachers Retirement System now owns 12,298 shares of the specialty pharmaceutical company’s stock worth $163,000 after acquiring an additional 1,565 shares in the last quarter.

KalVista Pharmaceuticals Company Profile (Get Rating)

KalVista Pharmaceuticals, Inc, a clinical stage pharmaceutical company, discovers, develops, and commercializes small molecule protease inhibitors for diseases with unmet needs. 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.

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