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

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

Separately, HC Wainwright boosted their target price on KalVista Pharmaceuticals from $16.00 to $24.00 and gave the stock a buy rating in a research report on Wednesday, February 14th.

KalVista Pharmaceuticals Trading Down 0.3 %

KalVista Pharmaceuticals stock opened at $12.13 on Wednesday. The firm’s 50 day simple moving average is $12.12 and its 200 day simple moving average is $11.40. KalVista Pharmaceuticals has a 1-year low of $7.21 and a 1-year high of $16.88. The firm has a market capitalization of $511.74 million, a PE ratio of -3.85 and a beta of 0.92.

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

Insider Buying and Selling

In other news, major shareholder Venrock Healthcare Capital Par acquired 4,474 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was purchased at an average cost of $14.74 per share, for a total transaction of $65,946.76. Following the acquisition, the insider now owns 4,743,157 shares of the company’s stock, valued at $69,914,134.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Venrock Healthcare Capital Par acquired 4,474 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was purchased at an average cost of $14.74 per share, for a total transaction of $65,946.76. Following the acquisition, the insider now owns 4,743,157 shares of the company’s stock, valued at $69,914,134.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Edward P. Feener sold 28,288 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $14.07, for a total value of $398,012.16. Following the completion of the transaction, the insider now owns 62,157 shares of the company’s stock, valued at $874,548.99. The disclosure for this sale can be found here. Insiders sold a total of 75,978 shares of company stock worth $1,070,918 over the last ninety days. 12.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP purchased a new stake in KalVista Pharmaceuticals during the 3rd quarter valued at about $31,000. Tower Research Capital LLC TRC boosted its holdings in KalVista Pharmaceuticals by 28.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,482 shares of the specialty pharmaceutical company’s stock valued at $43,000 after acquiring an additional 768 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in KalVista Pharmaceuticals during the 4th quarter valued at about $49,000. AJOVista LLC purchased a new stake in KalVista Pharmaceuticals during the 4th quarter valued at about $60,000. Finally, New York State Common Retirement Fund boosted its holdings in KalVista Pharmaceuticals by 1,860.4% during 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 acquiring an additional 9,451 shares during the period.

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.