KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) Receives Consensus Recommendation of "Buy" from Brokerages

Shares of KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report) have received a consensus recommendation of "Buy" from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $26.29.

Several research analysts recently weighed in on KALV shares. JMP Securities boosted their target price on KalVista Pharmaceuticals from $19.00 to $27.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 8th. Leerink Partners boosted their target price on KalVista Pharmaceuticals from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Monday, July 7th. HC Wainwright boosted their price target on KalVista Pharmaceuticals from $20.00 to $27.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $28.00 price target on shares of KalVista Pharmaceuticals in a research note on Tuesday, April 8th.

KalVista Pharmaceuticals Stock Performance

KALV stock traded down $0.22 on Friday, hitting $14.36. 673,573 shares of the company's stock were exchanged, compared to its average volume of 782,869. KalVista Pharmaceuticals has a 12-month low of $7.30 and a 12-month high of $16.32. The firm has a 50 day moving average price of $13.25 and a two-hundred day moving average price of $11.75. The stock has a market cap of $717.54 million, a P/E ratio of -3.90 and a beta of -0.04.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last announced its earnings results on Thursday, July 10th. The specialty pharmaceutical company reported ($3.69) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($2.86). During the same period in the previous year, the firm posted ($1.07) earnings per share. Sell-side analysts expect that KalVista Pharmaceuticals will post -3.56 earnings per share for the current fiscal year.

Insider Transactions at KalVista Pharmaceuticals

In other news, CEO Benjamin L. Palleiko sold 32,979 shares of the company's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $15.69, for a total value of $517,440.51. Following the sale, the chief executive officer owned 369,595 shares in the company, valued at $5,798,945.55. This represents a 8.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul K. Audhya sold 2,776 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $11.84, for a total value of $32,867.84. Following the completion of the sale, the insider owned 106,611 shares in the company, valued at $1,262,274.24. The trade was a 2.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,878 shares of company stock worth $723,617 in the last 90 days. Company insiders own 10.50% of the company's stock.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Large investors have recently bought and sold shares of the business. Rhumbline Advisers raised its holdings in KalVista Pharmaceuticals by 3.4% in the 1st quarter. Rhumbline Advisers now owns 52,918 shares of the specialty pharmaceutical company's stock worth $611,000 after purchasing an additional 1,762 shares during the period. GAMMA Investing LLC raised its holdings in KalVista Pharmaceuticals by 567.3% in the 1st quarter. GAMMA Investing LLC now owns 4,431 shares of the specialty pharmaceutical company's stock worth $51,000 after purchasing an additional 3,767 shares during the period. Bank of America Corp DE raised its holdings in KalVista Pharmaceuticals by 108.8% in the 4th quarter. Bank of America Corp DE now owns 110,050 shares of the specialty pharmaceutical company's stock worth $932,000 after purchasing an additional 57,356 shares during the period. ProShare Advisors LLC acquired a new position in KalVista Pharmaceuticals in the 4th quarter worth about $101,000. Finally, Ameriprise Financial Inc. acquired a new position in KalVista Pharmaceuticals in the 4th quarter worth about $452,000.

About KalVista Pharmaceuticals

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).