KalVista Pharmaceuticals (NASDAQ:KALV) Receives "Buy" Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of KalVista Pharmaceuticals (NASDAQ:KALV - Free Report) in a report released on Thursday morning, Benzinga reports. They currently have a $35.00 price objective on the specialty pharmaceutical company's stock.

Separately, HC Wainwright raised their price target on KalVista Pharmaceuticals from $16.00 to $24.00 and gave the company a buy rating in a research report on Wednesday, February 14th.

KalVista Pharmaceuticals Price Performance

Shares of NASDAQ KALV traded up $0.17 during midday trading on Thursday, hitting $12.10. 312,126 shares of the company's stock were exchanged, compared to its average volume of 779,796. KalVista Pharmaceuticals has a twelve month low of $7.21 and a twelve month high of $16.88. The stock's 50 day moving average price is $13.11 and its 200-day moving average price is $11.18. The firm has a market cap of $510.47 million, a P/E ratio of -3.84 and a beta of 0.88.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last posted its earnings results on Monday, March 11th. The specialty pharmaceutical company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.09). On average, analysts expect that KalVista Pharmaceuticals will post -3.05 EPS for the current fiscal year.

Insider Activity

In related news, CFO Benjamin L. Palleiko sold 22,802 shares of KalVista Pharmaceuticals stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $14.11, for a total transaction of $321,736.22. Following the sale, the chief financial officer now directly owns 187,315 shares of the company's stock, valued at $2,643,014.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Benjamin L. Palleiko sold 22,802 shares of KalVista Pharmaceuticals stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $14.11, for a total transaction of $321,736.22. Following the sale, the chief financial officer now directly owns 187,315 shares of the company's stock, valued at $2,643,014.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Edward P. Feener sold 28,288 shares of KalVista Pharmaceuticals stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $14.07, for a total value of $398,012.16. Following the sale, the insider now directly owns 62,157 shares in the company, valued at $874,548.99. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 266,506 shares of company stock valued at $3,554,466 and have sold 75,978 shares valued at $1,070,918. 12.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd bought a new position in shares of KalVista Pharmaceuticals in the second quarter valued at approximately $26,000. Quantbot Technologies LP bought a new position in shares of KalVista Pharmaceuticals in the third quarter valued at approximately $31,000. Tower Research Capital LLC TRC raised its stake in shares of KalVista Pharmaceuticals by 28.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,482 shares of the specialty pharmaceutical company's stock valued at $43,000 after acquiring an additional 768 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new position in shares of KalVista Pharmaceuticals in the fourth quarter valued at approximately $49,000. Finally, Royal Bank of Canada raised its stake in shares of KalVista Pharmaceuticals by 225.7% in the second quarter. Royal Bank of Canada now owns 4,492 shares of the specialty pharmaceutical company's stock valued at $40,000 after acquiring an additional 3,113 shares during the last quarter.

KalVista Pharmaceuticals Company Profile

KalVista Pharmaceuticals, Inc, a clinical stage pharmaceutical company, engages in the discovery, development, and commercialization of small molecule protease inhibitors for diseases with unmet needs in the United States. The company's product portfolio comprises small molecule plasma kallikrein inhibitors targeting hereditary angioedema (HAE) and diabetic macular edema (DME); and oral plasma kallikrein inhibitors.