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

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 - Free Report) had its target price boosted by JMP Securities from $27.00 to $28.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a market outperform rating on the specialty pharmaceutical company's stock.

A number of other research firms have also recently weighed in on KALV. Leerink Partners increased 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. HC Wainwright increased 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. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $26.43.

KalVista Pharmaceuticals Price Performance

NASDAQ:KALV traded up $0.30 during trading hours on Friday, reaching $13.80. 163,031 shares of the stock were exchanged, compared to its average volume of 810,315. KalVista Pharmaceuticals has a twelve month low of $7.30 and a twelve month high of $17.28. The firm has a 50 day moving average of $14.08 and a 200 day moving average of $12.84. The stock has a market cap of $696.92 million, a PE ratio of -3.51 and a beta of -0.10.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last released its quarterly earnings data on Thursday, September 11th. The specialty pharmaceutical company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.21). The firm had revenue of $1.43 million during the quarter, compared to the consensus estimate of $1.97 million. 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, insider Paul K. Audhya sold 2,336 shares of the firm's stock in a transaction dated 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 directly owned 122,505 shares in the company, valued at $1,644,017.10. This trade represents a 1.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Benjamin L. Palleiko sold 7,294 shares of the firm'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 transaction, the chief executive officer owned 395,189 shares of the company's stock, valued at $6,259,793.76. This trade represents a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,835 shares of company stock worth $892,350 over the last three months. Insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On KalVista Pharmaceuticals

A number of hedge funds have recently made changes to their positions in KALV. The Manufacturers Life Insurance Company grew its stake in KalVista Pharmaceuticals by 5.9% in 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 acquiring an additional 818 shares during the period. BNP Paribas Financial Markets boosted its position in shares of KalVista Pharmaceuticals by 47.0% during the second quarter. BNP Paribas Financial Markets now owns 4,041 shares of the specialty pharmaceutical company's stock valued at $46,000 after buying an additional 1,292 shares during the last quarter. Rhumbline Advisers boosted its position in shares of KalVista Pharmaceuticals by 2.8% during the second quarter. Rhumbline Advisers now owns 54,376 shares of the specialty pharmaceutical company's stock valued at $615,000 after buying an additional 1,458 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its position in shares of KalVista Pharmaceuticals by 26.8% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 9,756 shares of the specialty pharmaceutical company's stock valued at $110,000 after buying an additional 2,061 shares during the last quarter. Finally, Corebridge Financial Inc. boosted its position in shares of KalVista Pharmaceuticals by 12.7% during the first quarter. Corebridge Financial Inc. now owns 19,094 shares of the specialty pharmaceutical company's stock valued at $220,000 after buying an additional 2,149 shares during the last quarter.

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).