Citizens Jmp Upgrades KalVista Pharmaceuticals (NASDAQ:KALV) to Strong-Buy

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

A number of other research firms have also recently issued reports on KALV. HC Wainwright restated 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 initiated coverage on shares of KalVista Pharmaceuticals in a research note on Wednesday, December 18th. They set a “buy” rating and a $22.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of KalVista Pharmaceuticals in a research note on Monday, December 9th. JMP Securities assumed coverage on shares of KalVista Pharmaceuticals in a report on Friday. They set an “outperform” rating and a $19.00 price objective for the company. Finally, TD Cowen began coverage on shares of KalVista Pharmaceuticals in a research note on Tuesday, January 7th. They issued a “buy” rating and a $30.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $23.80.

KalVista Pharmaceuticals Trading Up 1.6 %

KalVista Pharmaceuticals stock opened at $8.91 on Friday. The firm has a market capitalization of $440.33 million, a PE ratio of -2.45 and a beta of 0.86. KalVista Pharmaceuticals has a 12-month low of $7.30 and a 12-month high of $16.88. The firm has a 50-day moving average price of $8.83 and a 200-day moving average price of $10.87.

KalVista Pharmaceuticals (NASDAQ:KALV) last announced its quarterly earnings data on Thursday, December 5th. The specialty pharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.01. As a group, sell-side analysts predict that KalVista Pharmaceuticals will post -3.56 earnings per share for the current fiscal year.

Insider Activity at KalVista Pharmaceuticals

In other news, insider Paul K. Audhya sold 8,077 shares of KalVista Pharmaceuticals stock in a transaction on Monday, November 18th. The stock was sold at an average price of $9.26, for a total value of $74,793.02. Following the transaction, the insider now directly owns 94,199 shares in the company, valued at approximately $872,282.74. This trade represents a 7.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Benjamin L. Palleiko sold 14,400 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $9.26, for a total value of $133,344.00. Following the completion of the transaction, the chief executive officer now directly owns 266,598 shares of the company’s stock, valued at approximately $2,468,697.48. The trade was a 5.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,291 shares of company stock worth $304,086 over the last three months. 10.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vestal Point Capital LP boosted its holdings in shares of KalVista Pharmaceuticals by 73.9% in 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 in the last quarter. State Street Corp lifted its position in KalVista Pharmaceuticals by 68.1% during the third quarter. State Street Corp now owns 1,271,609 shares of the specialty pharmaceutical company’s stock valued at $14,725,000 after acquiring an additional 515,179 shares during the last quarter. Emerald Advisers LLC boosted its stake in KalVista Pharmaceuticals by 29.8% in the third quarter. Emerald Advisers LLC now owns 835,988 shares of the specialty pharmaceutical company’s stock valued at $9,681,000 after acquiring an additional 192,091 shares in the last quarter. Readystate Asset Management LP purchased a new position in KalVista Pharmaceuticals in the third quarter worth $2,084,000. Finally, Emerald Mutual Fund Advisers Trust increased its position in shares of KalVista Pharmaceuticals by 23.0% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 650,980 shares of the specialty pharmaceutical company’s stock worth $7,538,000 after purchasing an additional 121,615 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).