KalVista Pharmaceuticals (NASDAQ:KALV) Announces Earnings Results

Key Points

• KalVista Pharmaceuticals reported a quarterly loss of ($1.12) per share, missing analysts' estimates of ($0.91) by ($0.21), with revenues of $1.43 million versus a consensus of $1.97 million.
• Insider activity included CEO Benjamin L. Palleiko selling 7,294 shares at an average price of $15.84, reducing his ownership by 1.81%.
• Analysts remain optimistic with multiple firms increasing price targets, giving KalVista Pharmaceuticals a consensus target price of $26.29 and an overall "Buy" rating.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) issued its quarterly earnings results on Thursday. The specialty pharmaceutical company reported ($1.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.21), Zacks reports. The company had revenue of $1.43 million for the quarter, compared to the consensus estimate of $1.97 million.

KalVista Pharmaceuticals Trading Down 1.4%

KALV stock opened at $15.39 on Thursday. The company's 50 day moving average is $14.04 and its 200 day moving average is $12.74. The stock has a market cap of $774.73 million, a price-to-earnings ratio of -4.17 and a beta of -0.10. KalVista Pharmaceuticals has a 1-year low of $7.30 and a 1-year high of $16.33.

Insider Activity at KalVista Pharmaceuticals

In other KalVista Pharmaceuticals news, CEO Benjamin L. Palleiko sold 7,294 shares of the company's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $15.84, for a total value of $115,536.96. Following the completion of the sale, the chief executive officer owned 395,189 shares of the company's stock, valued at $6,259,793.76. This represents a 1.81% 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 2,336 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $13.42, for a total transaction of $31,349.12. Following the completion of the transaction, the insider owned 122,505 shares in the company, valued at $1,644,017.10. This represents a 1.87% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,835 shares of company stock valued at $892,350. 4.30% of the stock is owned by insiders.

Institutional Trading of KalVista Pharmaceuticals

Several large investors have recently added to or reduced their stakes in KALV. BNP Paribas Financial Markets boosted its holdings in KalVista Pharmaceuticals by 47.0% in the second quarter. BNP Paribas Financial Markets now owns 4,041 shares of the specialty pharmaceutical company's stock valued at $46,000 after acquiring an additional 1,292 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in KalVista Pharmaceuticals by 816.8% during the second quarter. Tower Research Capital LLC TRC now owns 8,059 shares of the specialty pharmaceutical company's stock valued at $91,000 after buying an additional 7,180 shares during the period. Brevan Howard Capital Management LP purchased a new position in KalVista Pharmaceuticals during the second quarter valued at $151,000. The Manufacturers Life Insurance Company lifted its position in KalVista Pharmaceuticals by 5.9% during the second quarter. The Manufacturers Life Insurance Company now owns 14,626 shares of the specialty pharmaceutical company's stock valued at $165,000 after buying an additional 818 shares during the period. Finally, Osaic Holdings Inc. purchased a new position in KalVista Pharmaceuticals during the second quarter valued at $248,000.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on KALV shares. Leerink Partners boosted their price target on shares of KalVista Pharmaceuticals from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Monday, July 7th. JMP Securities boosted their price objective on KalVista Pharmaceuticals from $19.00 to $27.00 and gave the company a "market outperform" rating in a research note on Tuesday, July 8th. Finally, HC Wainwright boosted their price objective on KalVista Pharmaceuticals from $20.00 to $27.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $26.29.

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).

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