KalVista Pharmaceuticals (NASDAQ:KALV) Rating Increased to Strong-Buy at Citizens Jmp

KalVista Pharmaceuticals (NASDAQ:KALV) was upgraded by equities research analysts at Citizens Jmp to a “strong-buy” rating in a research report issued on Friday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. JMP Securities assumed coverage on shares of KalVista Pharmaceuticals in a report on Friday. They issued an “outperform” rating and a $19.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $28.00 price target on shares of KalVista Pharmaceuticals in a report on Thursday, December 5th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of KalVista Pharmaceuticals in a report on Friday, December 6th. Bank of America began coverage on shares of KalVista Pharmaceuticals in a research report on Wednesday, December 18th. They issued a “buy” rating and a $22.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of KalVista Pharmaceuticals in a report on Monday, December 9th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $23.80.

KalVista Pharmaceuticals Stock Performance

NASDAQ:KALV opened at $8.91 on Friday. The stock has a 50-day simple moving average of $8.83 and a two-hundred day simple moving average of $10.90. KalVista Pharmaceuticals has a 52-week low of $7.30 and a 52-week high of $16.88. The firm has a market capitalization of $440.33 million, a PE ratio of -2.45 and a beta of 0.86.

KalVista Pharmaceuticals (NASDAQ:KALV) last posted its quarterly earnings results on Thursday, December 5th. The specialty pharmaceutical company reported ($0.91) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.01. Equities analysts forecast that KalVista Pharmaceuticals will post -3.56 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Benjamin L. Palleiko sold 7,627 shares of KalVista Pharmaceuticals stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $9.75, for a total transaction of $74,363.25. Following the sale, the chief executive officer now owns 274,596 shares of the company’s stock, valued at approximately $2,677,311. The trade was a 2.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul K. Audhya sold 8,077 shares of KalVista Pharmaceuticals stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $9.26, for a total transaction of $74,793.02. Following the sale, the insider now owns 94,199 shares of the company’s stock, valued at approximately $872,282.74. This represents a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,291 shares of company stock worth $304,086 in the last ninety days. Company insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On KalVista Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. grew its position in shares of KalVista Pharmaceuticals by 24.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,329 shares of the specialty pharmaceutical company’s stock worth $87,000 after acquiring an additional 2,043 shares during the last quarter. SG Americas Securities LLC grew its position in KalVista Pharmaceuticals by 10.0% in the 4th quarter. SG Americas Securities LLC now owns 14,508 shares of the specialty pharmaceutical company’s stock valued at $123,000 after buying an additional 1,319 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in KalVista Pharmaceuticals in the 4th quarter valued at $634,000. JPMorgan Chase & Co. lifted its stake in shares of KalVista Pharmaceuticals by 8.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 22,610 shares of the specialty pharmaceutical company’s stock worth $262,000 after acquiring an additional 1,670 shares during the period. Finally, Barclays PLC boosted its holdings in shares of KalVista Pharmaceuticals by 418.5% in the third quarter. Barclays PLC now owns 67,222 shares of the specialty pharmaceutical company’s stock valued at $778,000 after acquiring an additional 54,257 shares in the last quarter.

About KalVista Pharmaceuticals

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).