KalVista Pharmaceuticals (NASDAQ:KALV) Upgraded to Hold at Wall Street Zen

Key Points

• KalVista Pharmaceuticals was upgraded to a Hold by Wall Street Zen, adding to a wave of mostly cautious analyst calls. The stock now carries a consensus Hold rating and a consensus target price of $30.60.
• The company recently reported quarterly earnings of ($0.43) per share, missing expectations, while revenue of $40.86 million came in slightly above estimates. Analysts expect full-year EPS of -1.19.
• Shares were trading around $27.00, near their 52-week high, with recent insider selling and steady institutional buying also noted. KalVista’s lead programs focus on treatments for hereditary angioedema and diabetic macular edema.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) was upgraded by research analysts at Wall Street Zen to a "hold" rating in a report released on Saturday.

KALV has been the topic of several other reports. HC Wainwright downgraded shares of KalVista Pharmaceuticals from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $37.00 to $27.00 in a research report on Friday, May 1st. Citizens Jmp downgraded shares of KalVista Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 29th. JonesTrading downgraded shares of KalVista Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 30th. Weiss Ratings reissued a "sell (d-)" rating on shares of KalVista Pharmaceuticals in a research note on Tuesday, April 21st. Finally, Needham & Company LLC downgraded shares of KalVista Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, KalVista Pharmaceuticals has a consensus rating of "Hold" and a consensus target price of $30.60.

KalVista Pharmaceuticals Price Performance

Shares of KalVista Pharmaceuticals stock opened at $27.00 on Friday. The stock's fifty day moving average is $24.16 and its 200-day moving average is $18.79. The firm has a market capitalization of $1.44 billion, a PE ratio of -7.80 and a beta of -0.12. The company has a quick ratio of 5.10, a current ratio of 5.17 and a debt-to-equity ratio of 8.18. KalVista Pharmaceuticals has a 12-month low of $9.83 and a 12-month high of $27.00.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last announced its earnings results on Thursday, May 14th. The specialty pharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.05). The firm had revenue of $40.86 million during the quarter, compared to the consensus estimate of $39.03 million. Equities analysts anticipate that KalVista Pharmaceuticals will post -1.19 earnings per share for the current year.

Insider Activity at KalVista Pharmaceuticals

In other KalVista Pharmaceuticals news, insider Nicole Sweeny sold 1,489 shares of KalVista Pharmaceuticals stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $26.78, for a total transaction of $39,875.42. Following the completion of the sale, the insider owned 59,291 shares of the company's stock, valued at $1,587,812.98. This trade represents a 2.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Brian Piekos sold 1,489 shares of KalVista Pharmaceuticals stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $26.78, for a total transaction of $39,875.42. Following the sale, the chief financial officer directly owned 21,661 shares of the company's stock, valued at $580,081.58. This trade represents a 6.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 254,602 shares of company stock worth $4,656,670. Corporate insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On KalVista Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC raised its stake in shares of KalVista Pharmaceuticals by 45.8% during the 1st quarter. Parallel Advisors LLC now owns 1,876 shares of the specialty pharmaceutical company's stock worth $38,000 after purchasing an additional 589 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of KalVista Pharmaceuticals by 5.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,626 shares of the specialty pharmaceutical company's stock worth $165,000 after purchasing an additional 818 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of KalVista Pharmaceuticals by 47.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,041 shares of the specialty pharmaceutical company's stock worth $46,000 after purchasing an additional 1,292 shares in the last quarter. Rhumbline Advisers raised its stake in shares of KalVista Pharmaceuticals by 2.8% during the 2nd quarter. Rhumbline Advisers now owns 54,376 shares of the specialty pharmaceutical company's stock worth $615,000 after purchasing an additional 1,458 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of KalVista Pharmaceuticals by 137.0% during the 1st quarter. Royal Bank of Canada now owns 2,917 shares of the specialty pharmaceutical company's stock worth $59,000 after purchasing an additional 1,686 shares during the last quarter.

About KalVista Pharmaceuticals

KalVista Pharmaceuticals is a clinical‐stage biotechnology company focused on the discovery and development of small‐molecule protease inhibitors for orphan and specialty disease indications. The firm's scientific platform centers on selective inhibition of plasma kallikrein, a serine protease implicated in disorders characterized by vascular leak, edema and inflammation. KalVista's approach leverages oral and intravitreal delivery formats to target both systemic and ophthalmic conditions.

The company's lead programs include an oral plasma kallikrein inhibitor in clinical trials for the acute treatment of hereditary angioedema (HAE) attacks and an intravitreal kallikrein inhibitor being evaluated for diabetic macular edema.

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