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

Needham & Company LLC reaffirmed their buy rating on shares of KalVista Pharmaceuticals (NASDAQ:KALV - Free Report) in a research note published on Wednesday, Benzinga reports. Needham & Company LLC currently has a $35.00 price objective on the specialty pharmaceutical company's stock.

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

KalVista Pharmaceuticals Trading Up 7.3 %

Shares of NASDAQ KALV traded up $0.83 during midday trading on Wednesday, hitting $12.18. The company's stock had a trading volume of 482,057 shares, compared to its average volume of 705,332. KalVista Pharmaceuticals has a 12-month low of $7.21 and a 12-month high of $16.88. The firm has a market cap of $513.87 million, a P/E ratio of -3.81 and a beta of 0.88. The business's 50 day moving average is $12.15 and its two-hundred day moving average is $11.37.

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

Insider Activity

In other KalVista Pharmaceuticals news, major shareholder Venrock Healthcare Capital Par acquired 4,474 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was bought at an average cost of $14.74 per share, with a total value of $65,946.76. Following the completion of the purchase, the insider now directly owns 4,743,157 shares in the company, valued at $69,914,134.18. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other KalVista Pharmaceuticals news, major shareholder Venrock Healthcare Capital Par acquired 4,474 shares of KalVista Pharmaceuticals stock in a transaction that occurred on Tuesday, February 6th. The stock was bought at an average price of $14.74 per share, with a total value of $65,946.76. Following the completion of the purchase, the insider now directly owns 4,743,157 shares of the company's stock, valued at approximately $69,914,134.18. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward P. Feener sold 28,288 shares of the company's stock in a transaction on 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 owns 62,157 shares of the company's stock, valued at approximately $874,548.99. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,978 shares of company stock worth $1,070,918. Company insiders own 12.30% of the company's stock.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in KALV. Tower Research Capital LLC TRC lifted its position in shares of KalVista Pharmaceuticals by 28.3% during 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 buying an additional 768 shares during the last quarter. Bank of New York Mellon Corp lifted its position in KalVista Pharmaceuticals by 1.8% during the third quarter. Bank of New York Mellon Corp now owns 84,309 shares of the specialty pharmaceutical company's stock valued at $812,000 after acquiring an additional 1,508 shares during the last quarter. Quantbot Technologies LP acquired a new stake in KalVista Pharmaceuticals in the third quarter valued at approximately $31,000. China Universal Asset Management Co. Ltd. purchased a new position in KalVista Pharmaceuticals in the fourth quarter worth $49,000. Finally, AJOVista LLC purchased a new position in KalVista Pharmaceuticals in the fourth quarter worth $60,000.

About KalVista Pharmaceuticals

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.