KalVista Pharmaceuticals (NASDAQ:KALV) Stock Price Expected to Rise, JMP Securities Analyst Says

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) had its price objective lifted by JMP Securities from $19.00 to $27.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "market outperform" rating on the specialty pharmaceutical company's stock. JMP Securities' price objective suggests a potential upside of 80.60% from the company's current price.

A number of other equities research analysts also recently commented on the company. Leerink Partners upped their price objective on KalVista Pharmaceuticals from $18.00 to $20.00 and gave the company an "outperform" rating in a report on Monday. Jones Trading reaffirmed a "buy" rating and issued a $30.00 target price on shares of KalVista Pharmaceuticals in a report on Wednesday, March 26th. Needham & Company LLC reaffirmed a "buy" rating and issued a $28.00 target price on shares of KalVista Pharmaceuticals in a research report on Tuesday, April 8th. Finally, HC Wainwright boosted their target price on KalVista Pharmaceuticals from $20.00 to $27.00 and gave the stock a "buy" rating in a research note on Tuesday. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, KalVista Pharmaceuticals presently has an average rating of "Buy" and a consensus price target of $26.29.

KalVista Pharmaceuticals Trading Down 0.7%

KALV traded down $0.11 on Tuesday, reaching $14.95. The company had a trading volume of 3,433,676 shares, compared to its average volume of 546,971. The company has a fifty day moving average of $12.43 and a 200-day moving average of $11.08. KalVista Pharmaceuticals has a one year low of $7.30 and a one year high of $15.98. The company has a market capitalization of $743.31 million, a P/E ratio of -4.02 and a beta of -0.04.

Insider Buying and Selling

In other news, CEO Benjamin L. Palleiko sold 7,169 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $14.50, for a total transaction of $103,950.50. Following the sale, the chief executive officer directly owned 315,074 shares of the company's stock, valued at $4,568,573. The trade was a 2.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Venrock Healthcare Capital Par purchased 25,000 shares of the stock in a transaction on Wednesday, April 9th. The stock was acquired at an average cost of $9.42 per share, for a total transaction of $235,500.00. Following the completion of the acquisition, the insider owned 5,303,985 shares of the company's stock, valued at $49,963,538.70. The trade was a 0.47% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 15,899 shares of company stock worth $206,176. Corporate insiders own 10.50% of the company's stock.

Institutional Trading of KalVista Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its position in KalVista Pharmaceuticals by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 339,936 shares of the specialty pharmaceutical company's stock valued at $3,923,000 after acquiring an additional 12,263 shares during the last quarter. Rhumbline Advisers grew its position in KalVista Pharmaceuticals by 3.4% during the first quarter. Rhumbline Advisers now owns 52,918 shares of the specialty pharmaceutical company's stock worth $611,000 after buying an additional 1,762 shares during the period. Woodline Partners LP lifted its holdings in shares of KalVista Pharmaceuticals by 25.5% in the first quarter. Woodline Partners LP now owns 1,617,469 shares of the specialty pharmaceutical company's stock valued at $18,666,000 after purchasing an additional 329,068 shares in the last quarter. Parkman Healthcare Partners LLC purchased a new stake in shares of KalVista Pharmaceuticals in the first quarter valued at about $8,698,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of KalVista Pharmaceuticals by 13.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,325 shares of the specialty pharmaceutical company's stock valued at $281,000 after buying an additional 2,939 shares during the period.

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).