KalVista Pharmaceuticals (NASDAQ:KALV) Receives “Buy” Rating from Needham & Company LLC

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

Separately, HC Wainwright raised 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 Price Performance

Shares of NASDAQ:KALV opened at $12.13 on Wednesday. KalVista Pharmaceuticals has a 1-year low of $7.21 and a 1-year high of $16.88. The business’s 50 day moving average is $12.12 and its 200-day moving average is $11.41.

KalVista Pharmaceuticals (NASDAQ:KALV) last announced its quarterly earnings data 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). As a group, analysts anticipate that KalVista Pharmaceuticals will post -3.05 earnings per share for the current fiscal year.

Insider Transactions at KalVista Pharmaceuticals

In other news, CEO Thomas Andrew Crockett sold 24,888 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $14.11, for a total transaction of $351,169.68. Following the completion of the sale, the chief executive officer now owns 211,203 shares in the company, valued at $2,980,074.33. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Thomas Andrew Crockett sold 24,888 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $14.11, for a total transaction of $351,169.68. Following the completion of the sale, the chief executive officer now owns 211,203 shares in the company, valued at $2,980,074.33. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Venrock Healthcare Capital Par acquired 29,747 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were bought at an average cost of $14.70 per share, with a total value of $437,280.90. Following the completion of the purchase, the insider now owns 4,824,731 shares of the company’s stock, valued at $70,923,545.70. The disclosure for this purchase can be found here. Insiders sold a total of 75,978 shares of company stock worth $1,070,918 over the last 90 days. 12.30% of the stock is owned by insiders.

Institutional Investors Weigh In On KalVista Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Frazier Life Sciences Management L.P. grew its stake in KalVista Pharmaceuticals by 11.8% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,622,294 shares of the specialty pharmaceutical company’s stock valued at $44,373,000 after acquiring an additional 383,435 shares during the period. Vanguard Group Inc. lifted its holdings in shares of KalVista Pharmaceuticals by 9.6% in the third quarter. Vanguard Group Inc. now owns 1,732,489 shares of the specialty pharmaceutical company’s stock valued at $16,684,000 after purchasing an additional 151,808 shares in the last quarter. Affinity Asset Advisors LLC lifted its holdings in shares of KalVista Pharmaceuticals by 56.1% in the third quarter. Affinity Asset Advisors LLC now owns 278,292 shares of the specialty pharmaceutical company’s stock valued at $2,680,000 after purchasing an additional 100,000 shares in the last quarter. Nan Fung Group Holdings Ltd lifted its holdings in shares of KalVista Pharmaceuticals by 14.6% in the third quarter. Nan Fung Group Holdings Ltd now owns 234,573 shares of the specialty pharmaceutical company’s stock valued at $2,259,000 after purchasing an additional 29,853 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of KalVista Pharmaceuticals by 5.1% in the fourth quarter. SG Americas Securities LLC now owns 137,817 shares of the specialty pharmaceutical company’s stock valued at $1,688,000 after purchasing an additional 6,670 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 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.