KalVista Pharmaceuticals (NASDAQ:KALV) Stock Price Up 3.7% - Time to Buy?

Key Points

• KalVista Pharmaceuticals stock increased by 3.7% on Thursday to close at $13.06, though the trading volume was significantly lower than average.
• Analysts from HC Wainwright and JMP Securities raised their price targets for the stock to $27.00, with eight out of nine analysts recommending a buy rating.
• The company reported a quarterly earnings loss of ($3.69) EPS, significantly missing the consensus estimate, and is projected to post a loss of -3.56 EPS for the current fiscal year.

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report)'s stock price shot up 3.7% during mid-day trading on Thursday . The company traded as high as $13.06 and last traded at $13.06. 128,461 shares were traded during trading, a decline of 84% from the average session volume of 783,408 shares. The stock had previously closed at $12.59.

Analyst Upgrades and Downgrades

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

KalVista Pharmaceuticals Trading Down 4.0%

The firm has a market cap of $639.86 million, a price-to-earnings ratio of -3.47 and a beta of 0.05. The firm has a 50 day moving average price of $13.41 and a 200-day moving average price of $12.27.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last issued its quarterly earnings data on Thursday, July 10th. The specialty pharmaceutical company reported ($3.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($2.86). During the same period in the previous year, the business posted ($1.07) earnings per share. As a group, equities analysts expect that KalVista Pharmaceuticals, Inc. will post -3.56 earnings per share for the current fiscal year.

Insider Buying and Selling at KalVista Pharmaceuticals

In related news, CEO Benjamin L. Palleiko sold 32,979 shares of the company's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $15.69, for a total transaction of $517,440.51. Following the transaction, the chief executive officer owned 369,595 shares of the company's stock, valued at approximately $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 SEC, which is available at the SEC website. Insiders have sold a total of 42,294 shares of company stock valued at $645,662 over the last ninety days. Insiders own 10.50% of the company's stock.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its stake in KalVista Pharmaceuticals by 5.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,626 shares of the specialty pharmaceutical company's stock worth $165,000 after buying an additional 818 shares during the last quarter. BNP Paribas Financial Markets grew 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 purchasing an additional 1,292 shares during the period. Rhumbline Advisers grew its holdings in KalVista Pharmaceuticals by 2.8% in the second quarter. Rhumbline Advisers now owns 54,376 shares of the specialty pharmaceutical company's stock valued at $615,000 after purchasing an additional 1,458 shares during the period. Legal & General Group Plc increased its position in KalVista Pharmaceuticals by 22.5% during the fourth quarter. Legal & General Group Plc now owns 8,144 shares of the specialty pharmaceutical company's stock worth $69,000 after purchasing an additional 1,494 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its stake in 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 worth $110,000 after purchasing an additional 2,061 shares during the period.

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).