KalVista Pharmaceuticals (NASDAQ:KALV) Given “Buy” Rating at Needham & Company LLC

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

Separately, HC Wainwright lifted 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 Stock Performance

KALV opened at $12.18 on Wednesday. KalVista Pharmaceuticals has a 1 year low of $7.21 and a 1 year high of $16.88. The firm has a 50 day moving average price of $12.15 and a 200 day moving average price of $11.37. The company has a market cap of $513.87 million, a PE ratio of -3.87 and a beta of 0.88.

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

Insider Transactions at KalVista Pharmaceuticals

In other news, major shareholder Venrock Healthcare Capital Par acquired 4,474 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased at an average cost of $14.74 per share, with a total value of $65,946.76. Following the completion of the acquisition, the insider now directly owns 4,743,157 shares in the company, valued at $69,914,134.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Venrock Healthcare Capital Par acquired 4,474 shares of KalVista Pharmaceuticals stock in a transaction that occurred on Tuesday, February 6th. The shares were purchased at an average cost of $14.74 per share, for a total transaction of $65,946.76. Following the completion of the purchase, the insider now directly owns 4,743,157 shares of the company’s stock, valued at approximately $69,914,134.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward P. Feener sold 28,288 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $14.07, for a total transaction of $398,012.16. Following the sale, the insider now owns 62,157 shares of the company’s stock, valued at approximately $874,548.99. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,978 shares of company stock valued at $1,070,918. Insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On KalVista Pharmaceuticals

A number of large investors have recently bought and sold shares of KALV. Frazier Life Sciences Management L.P. raised its position in shares of KalVista Pharmaceuticals by 11.8% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,622,294 shares of the specialty pharmaceutical company’s stock worth $44,373,000 after purchasing an additional 383,435 shares during the period. Vanguard Group Inc. grew its stake in KalVista Pharmaceuticals by 9.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,732,489 shares of the specialty pharmaceutical company’s stock worth $16,684,000 after buying an additional 151,808 shares during the last quarter. Affinity Asset Advisors LLC increased its position in 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 worth $2,680,000 after buying an additional 100,000 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in KalVista Pharmaceuticals in the fourth quarter valued at $507,000. Finally, Nan Fung Group Holdings Ltd boosted its holdings in shares of KalVista Pharmaceuticals by 14.6% during 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 acquiring an additional 29,853 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.