KalVista Pharmaceuticals (NASDAQ:KALV) Earns Buy Rating from Needham & Company LLC

KalVista Pharmaceuticals (NASDAQ:KALV)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $28.00 target price on the specialty pharmaceutical company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 126.90% from the company’s previous close.

KALV has been the subject of a number of other reports. Cantor Fitzgerald reissued an “overweight” rating on shares of KalVista Pharmaceuticals in a research report on Monday, December 9th. JMP Securities began coverage on KalVista Pharmaceuticals in a research report on Friday, January 31st. They issued an “outperform” rating and a $19.00 target price for the company. Citizens Jmp raised KalVista Pharmaceuticals to a “strong-buy” rating in a research report on Friday, January 31st. TD Cowen initiated coverage on KalVista Pharmaceuticals in a research note on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Jones Trading restated a “buy” rating and set a $30.00 target price on shares of KalVista Pharmaceuticals in a research report on Wednesday. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $24.83.

KalVista Pharmaceuticals Stock Up 2.2 %

KALV stock opened at $12.34 on Wednesday. The business has a 50 day moving average price of $10.49 and a 200 day moving average price of $10.26. The stock has a market cap of $613.50 million, a price-to-earnings ratio of -3.39 and a beta of 0.76. KalVista Pharmaceuticals has a fifty-two week low of $7.30 and a fifty-two week high of $15.50.

Insider Buying and Selling

In other KalVista Pharmaceuticals news, insider Paul K. Audhya sold 3,125 shares of the business’s 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 $30,687.50. Following the transaction, the insider now owns 100,334 shares in the company, valued at approximately $985,279.88. The trade was a 3.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Benjamin L. Palleiko sold 5,104 shares of the firm’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 value of $50,121.28. Following the completion of the sale, the chief executive officer now directly owns 278,855 shares of the company’s stock, valued at $2,738,356.10. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders purchased 236,055 shares of company stock valued at $2,162,146 and sold 17,292 shares valued at $184,625. Corporate insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KALV. SG Americas Securities LLC boosted its position in shares of KalVista Pharmaceuticals by 10.0% during the 4th quarter. SG Americas Securities LLC now owns 14,508 shares of the specialty pharmaceutical company’s stock worth $123,000 after purchasing an additional 1,319 shares in the last quarter. HighVista Strategies LLC lifted its stake in shares of KalVista Pharmaceuticals by 4.5% in the third quarter. HighVista Strategies LLC now owns 33,305 shares of the specialty pharmaceutical company’s stock valued at $386,000 after purchasing an additional 1,432 shares during the period. Legal & General Group Plc boosted its holdings in KalVista Pharmaceuticals by 22.5% during the fourth quarter. Legal & General Group Plc now owns 8,144 shares of the specialty pharmaceutical company’s stock worth $69,000 after buying an additional 1,494 shares in the last quarter. JPMorgan Chase & Co. grew its position in KalVista Pharmaceuticals by 8.0% during the third quarter. JPMorgan Chase & Co. now owns 22,610 shares of the specialty pharmaceutical company’s stock worth $262,000 after buying an additional 1,670 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its holdings in KalVista Pharmaceuticals by 24.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,329 shares of the specialty pharmaceutical company’s stock valued at $87,000 after buying an additional 2,043 shares in the last quarter.

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).