KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) have been given a consensus recommendation of “Buy” by the seven analysts that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $23.80.

Several analysts have recently commented on KALV shares. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of KalVista Pharmaceuticals in a report on Friday, December 6th. Citizens Jmp raised shares of KalVista Pharmaceuticals to a “strong-buy” rating in a report on Friday, January 31st. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of KalVista Pharmaceuticals in a research report on Thursday, December 5th. JMP Securities assumed coverage on shares of KalVista Pharmaceuticals in a report on Friday, January 31st. They set an “outperform” rating and a $19.00 target price on the stock. Finally, Bank of America began coverage on shares of KalVista Pharmaceuticals in a research note on Wednesday, December 18th. They issued a “buy” rating and a $22.00 target price on the stock.

KalVista Pharmaceuticals Stock Performance

Shares of NASDAQ:KALV opened at $10.35 on Tuesday. The firm’s fifty day moving average is $8.89 and its 200-day moving average is $10.36. The firm has a market cap of $511.48 million, a PE ratio of -2.84 and a beta of 0.85. KalVista Pharmaceuticals has a 52 week low of $7.30 and a 52 week high of $15.50.

KalVista Pharmaceuticals (NASDAQ:KALV) last released its quarterly earnings data on Thursday, December 5th. The specialty pharmaceutical company reported ($0.91) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.01. Sell-side analysts forecast that KalVista Pharmaceuticals will post -3.56 EPS for the current year.

Insider Activity

In related news, insider Paul K. Audhya sold 3,125 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $9.82, for a total transaction of $30,687.50. Following the completion of the transaction, the insider now owns 100,334 shares in the company, valued at $985,279.88. The trade was a 3.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Benjamin L. Palleiko sold 5,104 shares of KalVista Pharmaceuticals stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $9.82, for a total transaction of $50,121.28. Following the completion of the sale, the chief executive officer now owns 278,855 shares of the company’s stock, valued at $2,738,356.10. This trade represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 236,055 shares of company stock valued at $2,162,146 and have sold 15,856 shares valued at $155,172. Insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp raised its holdings in shares of KalVista Pharmaceuticals by 68.1% in the 3rd quarter. State Street Corp now owns 1,271,609 shares of the specialty pharmaceutical company’s stock valued at $14,725,000 after buying an additional 515,179 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new position in KalVista Pharmaceuticals in the fourth quarter valued at approximately $634,000. Vestal Point Capital LP grew its position in shares of KalVista Pharmaceuticals by 73.9% in the 3rd quarter. Vestal Point Capital LP now owns 4,000,000 shares of the specialty pharmaceutical company’s stock valued at $46,320,000 after buying an additional 1,700,000 shares during the last quarter. Barclays PLC increased its position in shares of KalVista Pharmaceuticals by 418.5% during the third quarter. Barclays PLC now owns 67,222 shares of the specialty pharmaceutical company’s stock worth $778,000 after purchasing an additional 54,257 shares in the last quarter. Finally, Readystate Asset Management LP acquired a new position in shares of KalVista Pharmaceuticals in the 3rd quarter valued at $2,084,000.

KalVista Pharmaceuticals Company Profile

KalVista Pharmaceuticals, Inc, a clinical stage pharmaceutical company, engages in the discovery, development, and commercialization of drug therapies inhibitors for diseases with unmet needs. The company’s product candidate is Sebetralstat, a small molecule plasma kallikrein inhibitor targeting the disease of hereditary angioedema (HAE).