HC Wainwright Issues Positive Forecast for KalVista Pharmaceuticals (NASDAQ:KALV) Stock Price

KalVista Pharmaceuticals (NASDAQ:KALV) had its target price increased by HC Wainwright from $27.00 to $37.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a buy rating on the specialty pharmaceutical company’s stock.

KALV has been the topic of several other reports. Citigroup reaffirmed a “market outperform” rating on shares of KalVista Pharmaceuticals in a research report on Tuesday, November 11th. Wall Street Zen upgraded shares of KalVista Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. JMP Securities lifted their target price on KalVista Pharmaceuticals from $27.00 to $28.00 and gave the company a “market outperform” rating in a research report on Friday, September 12th. Citizens Jmp reduced their target price 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of KalVista Pharmaceuticals in a research note on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, KalVista Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $29.17.

KalVista Pharmaceuticals Stock Performance

Shares of KALV stock opened at $16.80 on Friday. The company’s fifty day moving average price is $14.57 and its 200-day moving average price is $13.59. The stock has a market cap of $849.24 million, a PE ratio of -4.25 and a beta of -0.14. The company has a current ratio of 7.22, a quick ratio of 7.21 and a debt-to-equity ratio of 8.18. KalVista Pharmaceuticals has a 12 month low of $7.30 and a 12 month high of $19.00.

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

Insider Buying and Selling

In related news, insider Paul K. Audhya sold 5,296 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $13.45, for a total transaction of $71,231.20. Following the completion of the transaction, the insider owned 131,831 shares of the company’s stock, valued at $1,773,126.95. This trade represents a 3.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Benjamin L. Palleiko sold 7,294 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $16.51, for a total value of $120,423.94. Following the transaction, the chief executive officer owned 424,520 shares in the company, valued at $7,008,825.20. This trade represents a 1.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 31,329 shares of company stock valued at $437,371 over the last quarter. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in shares of KalVista Pharmaceuticals by 15.4% in the 4th quarter. SG Americas Securities LLC now owns 48,030 shares of the specialty pharmaceutical company’s stock valued at $776,000 after buying an additional 6,410 shares during the period. Diversified Trust Co. purchased a new stake in KalVista Pharmaceuticals during the fourth quarter worth about $176,000. Tudor Investment Corp ET AL acquired a new position in shares of KalVista Pharmaceuticals in the third quarter valued at approximately $24,360,000. Sherbrooke Park Advisers LLC acquired a new stake in KalVista Pharmaceuticals during the 3rd quarter worth approximately $191,000. Finally, Qube Research & Technologies Ltd boosted its holdings in KalVista Pharmaceuticals by 234.6% in the third quarter. Qube Research & Technologies Ltd now owns 325,435 shares of the specialty pharmaceutical company’s stock valued at $3,964,000 after purchasing an additional 228,187 shares during the period.

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.