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

Needham & Company LLC reiterated their buy rating on shares of KalVista Pharmaceuticals (NASDAQ:KALV) in a report published on Friday morning, Benzinga reports. They currently have a $32.00 target price on the specialty pharmaceutical company’s stock.

Several other research analysts also recently weighed in on the stock. HC Wainwright reissued a buy rating and issued a $20.00 target price on shares of KalVista Pharmaceuticals in a research note on Friday. Cantor Fitzgerald raised shares of KalVista Pharmaceuticals to a strong-buy rating in a research report on Monday, August 26th.

KalVista Pharmaceuticals Price Performance

Shares of NASDAQ KALV opened at $12.34 on Friday. The firm’s 50-day moving average is $13.17 and its two-hundred day moving average is $12.42. KalVista Pharmaceuticals has a 12-month low of $7.21 and a 12-month high of $16.88. The company has a market capitalization of $520.60 million, a PE ratio of -3.63 and a beta of 0.91.

KalVista Pharmaceuticals (NASDAQ:KALV) last released its quarterly earnings results on Thursday, September 5th. The specialty pharmaceutical company reported ($0.87) earnings per share for the quarter, topping the consensus estimate of ($0.91) by $0.04. On average, analysts forecast that KalVista Pharmaceuticals will post -3.57 EPS for the current fiscal year.

Insider Activity at KalVista Pharmaceuticals

In related news, insider Paul K. Audhya sold 2,135 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $12.40, for a total transaction of $26,474.00. Following the transaction, the insider now directly owns 83,745 shares in the company, valued at $1,038,438. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Paul K. Audhya sold 2,135 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $12.40, for a total value of $26,474.00. Following the completion of the sale, the insider now directly owns 83,745 shares in the company, valued at $1,038,438. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christopher Yea sold 7,102 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $12.01, for a total transaction of $85,295.02. Following the transaction, the insider now directly owns 84,467 shares of the company’s stock, valued at approximately $1,014,448.67. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,452 shares of company stock worth $282,491. 12.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in KalVista Pharmaceuticals by 4.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,142 shares of the specialty pharmaceutical company’s stock valued at $263,000 after buying an additional 944 shares during the period. ClariVest Asset Management LLC increased its position in shares of KalVista Pharmaceuticals by 2.8% in the second quarter. ClariVest Asset Management LLC now owns 57,096 shares of the specialty pharmaceutical company’s stock worth $673,000 after acquiring an additional 1,535 shares in the last quarter. Nicholas Investment Partners LP raised its stake in shares of KalVista Pharmaceuticals by 0.9% in the 2nd quarter. Nicholas Investment Partners LP now owns 184,358 shares of the specialty pharmaceutical company’s stock valued at $2,172,000 after acquiring an additional 1,714 shares during the period. nVerses Capital LLC acquired a new position in shares of KalVista Pharmaceuticals during the 2nd quarter valued at $25,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of KalVista Pharmaceuticals by 27.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,437 shares of the specialty pharmaceutical company’s stock valued at $182,000 after acquiring an additional 3,314 shares in the last quarter.

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.