Needham & Company LLC Reiterates “Buy” Rating for KalVista Pharmaceuticals (NASDAQ:KALV)

KalVista Pharmaceuticals (NASDAQ:KALV)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports. They presently have a $28.00 target price on the specialty pharmaceutical company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 122.22% from the company’s current price.

A number of other brokerages also recently commented on KALV. JMP Securities began coverage on shares of KalVista Pharmaceuticals in a report on Friday, January 31st. They set an “outperform” rating and a $19.00 price target for the company. Citizens Jmp upgraded shares of KalVista Pharmaceuticals to a “strong-buy” rating in a report on Friday, January 31st. HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of KalVista Pharmaceuticals in a report on Friday, December 6th. Cantor Fitzgerald reiterated an “overweight” rating on shares of KalVista Pharmaceuticals in a report on Monday, December 9th. Finally, TD Cowen initiated coverage on shares of KalVista Pharmaceuticals in a report on Tuesday, January 7th. They set a “buy” rating and a $30.00 price target for the company. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $23.80.

KalVista Pharmaceuticals Trading Up 2.9 %

NASDAQ:KALV opened at $12.60 on Thursday. The firm has a 50-day moving average price of $9.67 and a two-hundred day moving average price of $10.30. KalVista Pharmaceuticals has a twelve month low of $7.30 and a twelve month high of $15.50. The company has a market capitalization of $622.67 million, a P/E ratio of -3.46 and a beta of 0.76.

Insider Buying and Selling

In other KalVista Pharmaceuticals news, CEO Benjamin L. Palleiko sold 6,669 shares of KalVista Pharmaceuticals stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $11.97, for a total transaction of $79,827.93. Following the transaction, the chief executive officer now directly owns 287,811 shares of the company’s stock, valued at $3,445,097.67. The trade was a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul K. Audhya sold 3,125 shares of KalVista Pharmaceuticals 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 transaction, the insider now directly owns 100,334 shares in the company, valued at approximately $985,279.88. This trade represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 236,055 shares of company stock valued at $2,162,146 and have sold 17,292 shares valued at $184,625. Corporate insiders own 10.50% of the company’s stock.

Institutional Trading of KalVista Pharmaceuticals

A number of hedge funds have recently made changes to their positions in KALV. Vestal Point Capital LP raised its stake in shares of KalVista Pharmaceuticals by 73.9% during the third quarter. Vestal Point Capital LP now owns 4,000,000 shares of the specialty pharmaceutical company’s stock valued at $46,320,000 after purchasing an additional 1,700,000 shares during the period. Boxer Capital Management LLC purchased a new stake in shares of KalVista Pharmaceuticals during the fourth quarter valued at approximately $13,467,000. Octagon Capital Advisors LP purchased a new stake in shares of KalVista Pharmaceuticals during the fourth quarter valued at approximately $11,604,000. Frazier Life Sciences Management L.P. raised its stake in shares of KalVista Pharmaceuticals by 32.5% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 4,887,867 shares of the specialty pharmaceutical company’s stock valued at $41,400,000 after purchasing an additional 1,200,000 shares during the period. Finally, Stempoint Capital LP purchased a new stake in shares of KalVista Pharmaceuticals during the fourth quarter valued at approximately $8,409,000.

About KalVista Pharmaceuticals

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).