KalVista Pharmaceuticals (NASDAQ:KALV) Price Target Raised to $32.00

by · The Cerbat Gem

KalVista Pharmaceuticals (NASDAQ:KALV – Free Report) had its price objective hoisted by Needham & Company LLC from $28.00 to $32.00 in a report published on Tuesday morning, Marketbeat.com reports. They currently have a buy rating on the specialty pharmaceutical company’s stock.

A number of other research firms have also commented on KALV. JMP Securities increased their price target 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of KalVista Pharmaceuticals in a research note on Wednesday, October 8th. Citigroup reissued a “market outperform” rating on shares of KalVista Pharmaceuticals in a report on Tuesday, November 11th. Wall Street Zen raised KalVista Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Finally, Cowen restated a “buy” rating on shares of KalVista Pharmaceuticals in a report on Wednesday, December 3rd. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.50.

Read Our Latest Stock Report on KalVista Pharmaceuticals

KalVista Pharmaceuticals Stock Down 3.2%

Shares of KalVista Pharmaceuticals stock opened at $15.82 on Tuesday. The firm has a market cap of $799.64 million, a price-to-earnings ratio of -4.01 and a beta of -0.14. The stock has a 50-day simple moving average of $14.45 and a 200-day simple moving average of $13.55. The company has a debt-to-equity ratio of 8.18, a current ratio of 7.22 and a quick ratio of 7.21. KalVista Pharmaceuticals has a 52-week low of $7.30 and a 52-week high of $17.30.

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

Insiders Place Their Bets

In other KalVista Pharmaceuticals news, insider Paul K. Audhya sold 5,296 shares of KalVista Pharmaceuticals stock in a transaction on Monday, November 24th. The stock was sold at an average price of $13.45, for a total value of $71,231.20. Following the completion of the transaction, the insider owned 131,831 shares in the company, valued at approximately $1,773,126.95. The trade was a 3.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Benjamin L. Palleiko sold 10,940 shares of KalVista Pharmaceuticals stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $13.45, for a total transaction of $147,143.00. Following the completion of the sale, the chief executive officer owned 416,189 shares in the company, valued at $5,597,742.05. This trade represents a 2.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 31,329 shares of company stock worth $437,371 over the last quarter. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KALV. MetLife Investment Management LLC grew its position in shares of KalVista Pharmaceuticals by 13.2% in the 1st quarter. MetLife Investment Management LLC now owns 21,688 shares of the specialty pharmaceutical company’s stock worth $250,000 after buying an additional 2,536 shares during the last quarter. Corebridge Financial Inc. lifted its stake in KalVista Pharmaceuticals by 12.7% in the 1st quarter. Corebridge Financial Inc. now owns 19,094 shares of the specialty pharmaceutical company’s stock worth $220,000 after purchasing an additional 2,149 shares in the last quarter. AQR Capital Management LLC bought a new position in KalVista Pharmaceuticals during the first quarter valued at $646,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in KalVista Pharmaceuticals by 13.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,325 shares of the specialty pharmaceutical company’s stock valued at $281,000 after purchasing an additional 2,939 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of KalVista Pharmaceuticals by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 339,936 shares of the specialty pharmaceutical company’s stock worth $3,923,000 after acquiring an additional 12,263 shares during the period.

About KalVista Pharmaceuticals

(Get Free Report)

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.

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