Needham & Company LLC Reaffirms Buy Rating for KalVista Pharmaceuticals (NASDAQ:KALV)

Needham & Company LLC reiterated their buy rating on shares of KalVista Pharmaceuticals (NASDAQ:KALV) in a research note published on Wednesday morning, Benzinga reports. The firm currently has a $35.00 price objective on the specialty pharmaceutical company’s stock.

Separately, HC Wainwright lifted their price target on shares of 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

Shares of KalVista Pharmaceuticals stock opened at $12.13 on Wednesday. The stock has a market cap of $511.74 million, a price-to-earnings ratio of -3.85 and a beta of 0.92. The stock has a 50 day moving average price of $12.12 and a 200-day moving average price of $11.40. KalVista Pharmaceuticals has a one year low of $7.21 and a one year high of $16.88.

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

Insider Activity at KalVista Pharmaceuticals

In other KalVista Pharmaceuticals news, major shareholder Venrock Healthcare Capital Par bought 29,747 shares of KalVista Pharmaceuticals stock in a transaction on Thursday, February 8th. The shares were acquired at an average price of $14.70 per share, for a total transaction of $437,280.90. Following the completion of the purchase, the insider now directly owns 4,824,731 shares in the company, valued at approximately $70,923,545.70. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Benjamin L. Palleiko sold 22,802 shares of the firm’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 transaction of $321,736.22. Following the transaction, the chief financial officer now directly owns 187,315 shares of the company’s stock, valued at $2,643,014.65. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Venrock Healthcare Capital Par purchased 29,747 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was purchased at an average price of $14.70 per share, with a total value of $437,280.90. Following the acquisition, the insider now directly owns 4,824,731 shares of the company’s stock, valued at approximately $70,923,545.70. The disclosure for this purchase can be found here. Insiders sold a total of 75,978 shares of company stock worth $1,070,918 in the last quarter. 12.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On KalVista Pharmaceuticals

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

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.