KalVista Pharmaceuticals (NASDAQ:KALV) Given Buy Rating at Needham & Company LLC

Key Points

• Needham & Company LLC has reiterated its "buy" rating for KalVista Pharmaceuticals (NASDAQ:KALV) and set a price target of $28.00, indicating a potential upside of 97.59%.
• KalVista Pharmaceuticals recently reported a loss of $1.12 EPS for the quarter, missing consensus estimates, and generated revenue of $1.43 million, below analyst expectations.
• Insider sales were noted, with CEO Benjamin L. Palleiko selling over 32,000 shares recently, reflecting an 8.19% decrease in his ownership stake.

Needham & Company LLC reiterated their buy rating on shares of KalVista Pharmaceuticals (NASDAQ:KALV - Free Report) in a research report report published on Friday morning,Benzinga reports. Needham & Company LLC currently has a $28.00 target price on the specialty pharmaceutical company's stock.

KALV has been the topic of several other reports. JMP Securities lifted their price objective on KalVista Pharmaceuticals from $27.00 to $28.00 and gave the stock a "market outperform" rating in a report on Friday, September 12th. HC Wainwright boosted their target price on KalVista Pharmaceuticals from $20.00 to $27.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Leerink Partners boosted their target price on KalVista Pharmaceuticals from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. Based on data from MarketBeat, KalVista Pharmaceuticals currently has an average rating of "Buy" and an average price target of $26.43.

KalVista Pharmaceuticals Stock Up 1.8%

Shares of NASDAQ:KALV traded up $0.25 during trading on Friday, reaching $13.75. 163,031 shares of the company's stock traded hands, compared to its average volume of 810,315. KalVista Pharmaceuticals has a fifty-two week low of $7.30 and a fifty-two week high of $17.28. The firm has a market cap of $694.55 million, a PE ratio of -3.51 and a beta of -0.10. The company has a 50-day simple moving average of $14.08 and a 200-day simple moving average of $12.84.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last posted its quarterly earnings data on Thursday, September 11th. The specialty pharmaceutical company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.21). The company had revenue of $1.43 million during the quarter, compared to the consensus estimate of $1.97 million. On average, equities research analysts forecast that KalVista Pharmaceuticals will post -3.56 EPS for the current year.

Insider Transactions at KalVista Pharmaceuticals

In related news, insider Paul K. Audhya sold 2,942 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $13.22, for a total transaction of $38,893.24. Following the transaction, the insider owned 119,841 shares of the company's stock, valued at $1,584,298.02. This trade represents a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Benjamin L. Palleiko sold 32,979 shares of KalVista Pharmaceuticals stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $15.69, for a total value of $517,440.51. Following the completion of the sale, the chief executive officer directly owned 369,595 shares in the company, valued at $5,798,945.55. This represents a 8.19% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,835 shares of company stock worth $892,350. Corporate insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KALV. Ameriprise Financial Inc. acquired a new position in shares of KalVista Pharmaceuticals during the 4th quarter worth approximately $452,000. Bank of America Corp DE grew its stake in KalVista Pharmaceuticals by 108.8% in the 4th quarter. Bank of America Corp DE now owns 110,050 shares of the specialty pharmaceutical company's stock worth $932,000 after acquiring an additional 57,356 shares during the period. Deutsche Bank AG grew its stake in KalVista Pharmaceuticals by 63.5% in the 4th quarter. Deutsche Bank AG now owns 35,841 shares of the specialty pharmaceutical company's stock worth $304,000 after acquiring an additional 13,923 shares during the period. Graham Capital Management L.P. purchased a new stake in KalVista Pharmaceuticals in the 4th quarter worth approximately $89,000. Finally, ProShare Advisors LLC purchased a new stake in KalVista Pharmaceuticals in the 4th quarter worth approximately $101,000.

KalVista Pharmaceuticals Company Profile

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).