KalVista Pharmaceuticals (NASDAQ:KALV) Price Target Raised to $28.00

Key Points

• KalVista Pharmaceuticals' target price has been increased by JMP Securities from $27.00 to $28.00, signaling a potential upside of 89.06% from its previous close.
• Despite the positive price adjustment, the company missed its earnings expectations, reporting ($1.12) earnings per share against a consensus estimate of ($0.91).
• Several analysts have rated the stock positively, with a consensus rating of "Buy" and an average target price of $26.43.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) had its target price raised by stock analysts at JMP Securities from $27.00 to $28.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "market outperform" rating on the specialty pharmaceutical company's stock. JMP Securities' target price indicates a potential upside of 89.06% from the company's previous close.

Several other research analysts also recently weighed in on KALV. 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, July 8th. Leerink Partners boosted their price target on KalVista Pharmaceuticals from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $26.43.

KalVista Pharmaceuticals Price Performance

Shares of KALV stock opened at $14.81 on Friday. KalVista Pharmaceuticals has a 1-year low of $7.30 and a 1-year high of $17.28. The stock's fifty day moving average price is $14.10 and its 200 day moving average price is $12.77. The company has a market cap of $745.54 million, a price-to-earnings ratio of -4.01 and a beta of -0.10.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last announced its earnings results on Thursday, September 11th. The specialty pharmaceutical company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.21). The company had revenue of $1.43 million during the quarter, compared to analysts' expectations of $1.97 million. As a group, equities research analysts anticipate that KalVista Pharmaceuticals will post -3.56 earnings per share for the current year.

Insider Transactions at KalVista Pharmaceuticals

In other news, CEO Benjamin L. Palleiko sold 7,294 shares of the company's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $15.84, for a total value of $115,536.96. Following the sale, the chief executive officer owned 395,189 shares in the company, 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 company's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $13.42, for a total value of $31,349.12. Following the completion of the sale, the insider owned 122,505 shares in the company, valued at $1,644,017.10. The trade was a 1.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,835 shares of company stock worth $892,350 in the last 90 days. Company insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On KalVista Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in KALV. Ameriprise Financial Inc. acquired a new stake in shares of KalVista Pharmaceuticals in the fourth quarter valued at approximately $452,000. Bank of America Corp DE grew its position in KalVista Pharmaceuticals by 108.8% in the fourth quarter. Bank of America Corp DE now owns 110,050 shares of the specialty pharmaceutical company's stock worth $932,000 after acquiring an additional 57,356 shares during the period. Deutsche Bank AG grew its position in KalVista Pharmaceuticals by 63.5% in the fourth quarter. Deutsche Bank AG now owns 35,841 shares of the specialty pharmaceutical company's stock worth $304,000 after acquiring an additional 13,923 shares during the period. Graham Capital Management L.P. purchased a new position in shares of KalVista Pharmaceuticals during the fourth quarter worth $89,000. Finally, ProShare Advisors LLC purchased a new position in shares of KalVista Pharmaceuticals during the fourth quarter worth $101,000.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.