Citizens Jmp Has Lowered Expectations for KalVista Pharmaceuticals (NASDAQ:KALV) Stock Price

Key Points

• Citizens Jmp cut its price objective for KalVista (NASDAQ:KALV) from $29 to $28 but kept a "market outperform" rating, implying about a 58.6% upside from the stock's previous close.
• The stock carries a consensus rating of "Moderate Buy" with a consensus target of $30.25 (six Buy ratings vs. one Sell), while individual price targets range up to $37.00 from some analysts.
• Insiders have been selling: 33,378 shares worth roughly $522,290 were sold in the last quarter (including recent sales by the CFO), leaving insiders with about 4.3% ownership of the company.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) had its price objective dropped by analysts at Citizens Jmp from $29.00 to $28.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "market outperform" rating on the specialty pharmaceutical company's stock. Citizens Jmp's target price points to a potential upside of 58.60% from the stock's previous close.

A number of other analysts also recently weighed in on KALV. HC Wainwright upped their price target on shares of KalVista Pharmaceuticals from $27.00 to $37.00 and gave the stock a "buy" rating in a report on Friday, January 9th. Wall Street Zen upgraded shares of KalVista Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, December 6th. TD Cowen restated a "buy" rating on shares of KalVista Pharmaceuticals in a research note on Wednesday, December 3rd. Needham & Company LLC lifted their price target on KalVista Pharmaceuticals from $35.00 to $36.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of KalVista Pharmaceuticals in a report on Thursday, January 22nd. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $30.25.

KalVista Pharmaceuticals Trading Up 3.0%

KALV opened at $17.65 on Thursday. The stock has a market capitalization of $892.41 million, a price-to-earnings ratio of -4.40 and a beta of -0.35. The company has a quick ratio of 7.21, a current ratio of 7.22 and a debt-to-equity ratio of 8.18. KalVista Pharmaceuticals has a twelve month low of $9.23 and a twelve month high of $19.00. The company has a 50-day simple moving average of $15.87 and a 200 day simple moving average of $14.41.

Insider Activity at KalVista Pharmaceuticals

In other KalVista Pharmaceuticals news, CFO Brian Piekos sold 1,767 shares of the business's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $15.57, for a total transaction of $27,512.19. Following the sale, the chief financial officer owned 13,762 shares of the company's stock, valued at approximately $214,274.34. The trade was a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nicole Sweeny sold 3,975 shares of the company's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $15.57, for a total transaction of $61,890.75. Following the transaction, the insider owned 47,003 shares of the company's stock, valued at $731,836.71. This trade represents a 7.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,378 shares of company stock valued at $522,290 in the last quarter. 4.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On KalVista Pharmaceuticals

Several hedge funds have recently modified their holdings of KALV. BNP Paribas Financial Markets increased its holdings in KalVista Pharmaceuticals by 47.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,041 shares of the specialty pharmaceutical company's stock worth $46,000 after purchasing an additional 1,292 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of KalVista Pharmaceuticals during the third quarter valued at about $55,000. Wolverine Asset Management LLC bought a new stake in shares of KalVista Pharmaceuticals during the third quarter worth about $57,000. KLP Kapitalforvaltning AS bought a new stake in shares of KalVista Pharmaceuticals during the third quarter worth about $63,000. Finally, Truvestments Capital LLC increased its stake in shares of KalVista Pharmaceuticals by 253.8% in the fourth quarter. Truvestments Capital LLC now owns 4,684 shares of the specialty pharmaceutical company's stock valued at $76,000 after buying an additional 3,360 shares during the period.

About KalVista Pharmaceuticals

KalVista Pharmaceuticals is a clinical‐stage biotechnology company focused on the discovery and development of small‐molecule protease inhibitors for orphan and specialty disease indications. The firm's scientific platform centers on selective inhibition of plasma kallikrein, a serine protease implicated in disorders characterized by vascular leak, edema and inflammation. KalVista's approach leverages oral and intravitreal delivery formats to target both systemic and ophthalmic conditions.

The company's lead programs include an oral plasma kallikrein inhibitor in clinical trials for the acute treatment of hereditary angioedema (HAE) attacks and an intravitreal kallikrein inhibitor being evaluated for diabetic macular edema.

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