KalVista Pharmaceuticals (NASDAQ:KALV) Hits New 52-Week High Following Analyst Upgrade

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV)’s share price reached a new 52-week high during trading on Friday after HC Wainwright raised their price target on the stock from $27.00 to $37.00. HC Wainwright currently has a buy rating on the stock. KalVista Pharmaceuticals traded as high as $18.00 and last traded at $18.48, with a volume of 37238 shares. The stock had previously closed at $15.82.

Several other research firms have also commented on KALV. Needham & Company LLC upped their price target on shares of KalVista Pharmaceuticals from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of KalVista Pharmaceuticals in a report on Wednesday, October 8th. Citizens Jmp dropped their price target on shares of KalVista Pharmaceuticals from $29.00 to $28.00 and set a “market outperform” rating on the stock in a research note on Tuesday, November 11th. JMP Securities upped their price objective on KalVista Pharmaceuticals from $27.00 to $28.00 and gave the stock a “market outperform” rating in a research note on Friday, September 12th. Finally, Cowen reaffirmed a “buy” rating on shares of KalVista Pharmaceuticals in a report on Wednesday, December 3rd. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, KalVista Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $29.17.

Insider Transactions at KalVista Pharmaceuticals

In related news, insider Paul K. Audhya sold 5,296 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $13.45, for a total value of $71,231.20. Following the completion of the transaction, the insider owned 131,831 shares of the company’s stock, valued at approximately $1,773,126.95. This represents a 3.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Brian Piekos sold 4,471 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $13.45, for a total value of $60,134.95. Following the completion of the sale, the chief financial officer owned 10,529 shares of the company’s stock, valued at $141,615.05. The trade was a 29.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 31,329 shares of company stock valued at $437,371 over the last three months. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of KalVista Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its stake in KalVista Pharmaceuticals by 47.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,041 shares of the specialty pharmaceutical company’s stock valued at $46,000 after purchasing an additional 1,292 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of KalVista Pharmaceuticals during the third quarter valued at approximately $55,000. Wolverine Asset Management LLC bought a new stake in shares of KalVista Pharmaceuticals during the third quarter valued at approximately $57,000. KLP Kapitalforvaltning AS purchased a new position in shares of KalVista Pharmaceuticals in the third quarter worth $63,000. Finally, Virtus Investment Advisers LLC bought a new position in shares of KalVista Pharmaceuticals during the second quarter worth $81,000.

KalVista Pharmaceuticals Stock Up 6.2%

The company has a market capitalization of $849.24 million, a PE ratio of -4.25 and a beta of -0.14. The company’s 50 day moving average is $14.57 and its two-hundred day moving average is $13.60. The company has a quick ratio of 7.21, a current ratio of 7.22 and a debt-to-equity ratio of 8.18.

KalVista Pharmaceuticals (NASDAQ:KALV) last announced its quarterly earnings results on Monday, November 10th. The specialty pharmaceutical company reported ($0.92) EPS for the quarter, topping the consensus estimate of ($0.96) by $0.04. The company had revenue of $13.69 million during the quarter, compared to analysts’ expectations of $6.03 million. On average, analysts anticipate that KalVista Pharmaceuticals, Inc. will post -3.56 earnings per share for the current year.

About KalVista Pharmaceuticals

KalVista Pharmaceuticals is a clinical‐stage biotechnology company focused on the discovery and development of small‐molecule protease inhibitors for orphan and specialty disease indications. The firm’s scientific platform centers on selective inhibition of plasma kallikrein, a serine protease implicated in disorders characterized by vascular leak, edema and inflammation. KalVista’s approach leverages oral and intravitreal delivery formats to target both systemic and ophthalmic conditions.

The company’s lead programs include an oral plasma kallikrein inhibitor in clinical trials for the acute treatment of hereditary angioedema (HAE) attacks and an intravitreal kallikrein inhibitor being evaluated for diabetic macular edema.