KalVista Pharmaceuticals (NASDAQ:KALV) Earns Outperform Rating from Analysts at JMP Securities

JMP Securities started coverage on shares of KalVista Pharmaceuticals (NASDAQ:KALV - Free Report) in a research note issued to investors on Friday morning, MarketBeat reports. The brokerage issued an outperform rating and a $19.00 price objective on the specialty pharmaceutical company's stock.

KALV has been the subject of a number of other reports. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 target price on shares of KalVista Pharmaceuticals in a research note on Thursday, December 5th. Bank of America initiated coverage on shares of KalVista Pharmaceuticals in a research note on Wednesday, December 18th. They issued a "buy" rating and a $22.00 target price for the company. Cantor Fitzgerald restated an "overweight" rating on shares of KalVista Pharmaceuticals in a research note 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 note on Friday, December 6th. Finally, TD Cowen initiated coverage on shares of KalVista Pharmaceuticals in a research note on Tuesday, January 7th. They set a "buy" rating and a $30.00 price objective for the company. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, KalVista Pharmaceuticals has a consensus rating of "Buy" and an average target price of $23.80.

KalVista Pharmaceuticals Price Performance

NASDAQ KALV traded up $0.14 during trading on Friday, reaching $8.91. 347,522 shares of the company's stock traded hands, compared to its average volume of 249,966. The firm has a market cap of $440.33 million, a price-to-earnings ratio of -2.45 and a beta of 0.86. The company's 50 day simple moving average is $8.83 and its two-hundred day simple moving average is $10.90. KalVista Pharmaceuticals has a 12-month low of $7.30 and a 12-month high of $16.88.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last released its quarterly earnings results on Thursday, December 5th. The specialty pharmaceutical company reported ($0.91) earnings per share for the quarter, beating analysts' consensus estimates of ($0.92) by $0.01. Research analysts expect that KalVista Pharmaceuticals will post -3.56 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of KalVista Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Suvretta Capital Management LLC grew its position in KalVista Pharmaceuticals by 0.5% in the 3rd quarter. Suvretta Capital Management LLC now owns 4,212,005 shares of the specialty pharmaceutical company's stock valued at $48,775,000 after acquiring an additional 20,000 shares in the last quarter. Vestal Point Capital LP grew its position in shares of KalVista Pharmaceuticals by 73.9% during the third quarter. Vestal Point Capital LP now owns 4,000,000 shares of the specialty pharmaceutical company's stock worth $46,320,000 after buying an additional 1,700,000 shares in the last quarter. State Street Corp grew its position in shares of 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 worth $14,725,000 after buying an additional 515,179 shares in the last quarter. Emerald Advisers LLC grew its position in shares of KalVista Pharmaceuticals by 29.8% during the third quarter. Emerald Advisers LLC now owns 835,988 shares of the specialty pharmaceutical company's stock worth $9,681,000 after buying an additional 192,091 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of KalVista Pharmaceuticals by 3.1% during the third quarter. Geode Capital Management LLC now owns 830,984 shares of the specialty pharmaceutical company's stock worth $9,624,000 after buying an additional 24,713 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).