KalVista Pharmaceuticals’ (KALV) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of KalVista Pharmaceuticals (NASDAQ:KALV) in a research report released on Thursday morning,Benzinga reports. The firm currently has a $28.00 price target on the specialty pharmaceutical company’s stock.

A number of other brokerages have also commented on KALV. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of KalVista Pharmaceuticals in a report on Monday, December 9th. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of KalVista Pharmaceuticals in a research report on Friday, December 6th. Citizens Jmp raised KalVista Pharmaceuticals to a “strong-buy” rating in a research note on Friday, January 31st. TD Cowen assumed coverage on KalVista Pharmaceuticals in a research note on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Bank of America assumed coverage on KalVista Pharmaceuticals in a research note on Wednesday, December 18th. They issued a “buy” rating and a $22.00 price objective on the stock. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $23.80.

KalVista Pharmaceuticals Trading Up 2.9 %

KALV stock opened at $12.60 on Thursday. The firm has a market capitalization of $622.67 million, a PE ratio of -3.46 and a beta of 0.76. KalVista Pharmaceuticals has a 1-year low of $7.30 and a 1-year high of $15.50. The business’s 50 day simple moving average is $9.75 and its 200 day simple moving average is $10.28.

Insiders Place Their Bets

In related news, insider Paul K. Audhya sold 3,125 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $9.82, for a total transaction of $30,687.50. Following the completion of the sale, the insider now owns 100,334 shares in the company, valued at approximately $985,279.88. This represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Venrock Healthcare Capital Par purchased 43,707 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average price of $8.76 per share, with a total value of $382,873.32. Following the acquisition, the insider now directly owns 4,986,480 shares of the company’s stock, valued at $43,681,564.80. This represents a 0.88 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 236,055 shares of company stock worth $2,162,146 and sold 17,292 shares worth $184,625. 10.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On KalVista Pharmaceuticals

Several institutional investors have recently bought and sold shares of KALV. State Street Corp boosted its position in KalVista Pharmaceuticals by 68.1% in the third quarter. State Street Corp now owns 1,271,609 shares of the specialty pharmaceutical company’s stock worth $14,725,000 after purchasing an additional 515,179 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of KalVista Pharmaceuticals during the 4th quarter valued at $634,000. Vestal Point Capital LP lifted its position in shares of KalVista Pharmaceuticals by 73.9% during the 3rd quarter. Vestal Point Capital LP now owns 4,000,000 shares of the specialty pharmaceutical company’s stock valued at $46,320,000 after buying an additional 1,700,000 shares during the last quarter. Barclays PLC lifted its position in shares of KalVista Pharmaceuticals by 418.5% during the 3rd quarter. Barclays PLC now owns 67,222 shares of the specialty pharmaceutical company’s stock valued at $778,000 after buying an additional 54,257 shares during the last quarter. Finally, Readystate Asset Management LP bought a new stake in shares of KalVista Pharmaceuticals during the 3rd quarter valued at $2,084,000.

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).