KalVista Pharmaceuticals (NASDAQ:KALV) Price Target Raised to $36.00 at Needham & Company LLC

KalVista Pharmaceuticals (NASDAQ:KALV) had its price target upped by stock analysts at Needham & Company LLC from $35.00 to $36.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the specialty pharmaceutical company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 110.04% from the stock’s current price.

Other analysts have also issued reports about the stock. TD Cowen reissued a “buy” rating on shares of KalVista Pharmaceuticals in a research report on Wednesday, December 3rd. HC Wainwright boosted their price objective on shares of KalVista Pharmaceuticals from $27.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Wall Street Zen upgraded shares of KalVista Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of KalVista Pharmaceuticals in a report on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, KalVista Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $30.25.

KalVista Pharmaceuticals Trading Up 4.1%

Shares of NASDAQ KALV opened at $17.14 on Wednesday. KalVista Pharmaceuticals has a 1-year low of $9.23 and a 1-year high of $19.00. The business has a fifty day moving average price of $15.87 and a 200 day moving average price of $14.41. The stock has a market capitalization of $866.43 million, a P/E ratio of -4.34 and a beta of -0.35. The company has a debt-to-equity ratio of 8.18, a current ratio of 7.22 and a quick ratio of 7.21.

Insider Activity at KalVista Pharmaceuticals

In other news, CEO Benjamin L. Palleiko sold 6,693 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $16.08, for a total transaction of $107,623.44. Following the sale, the chief executive officer directly owned 451,815 shares of the company’s stock, valued at $7,265,185.20. The trade was a 1.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicole Sweeny sold 3,975 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $15.57, for a total value of $61,890.75. Following the completion of the transaction, the insider directly owned 47,003 shares in the company, valued at approximately $731,836.71. The trade was a 7.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 33,378 shares of company stock valued at $522,290. 4.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Emerald Advisers LLC lifted its stake in KalVista Pharmaceuticals by 30.2% during the 3rd quarter. Emerald Advisers LLC now owns 1,351,254 shares of the specialty pharmaceutical company’s stock valued at $16,458,000 after acquiring an additional 313,205 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of KalVista Pharmaceuticals in the third quarter worth $24,360,000. Jefferies Financial Group Inc. acquired a new stake in shares of KalVista Pharmaceuticals in the third quarter worth $3,494,000. Blue Owl Capital Holdings LP purchased a new position in shares of KalVista Pharmaceuticals during the third quarter worth $1,522,000. Finally, Stonepine Capital Management LLC raised its holdings in shares of KalVista Pharmaceuticals by 364.0% during the second quarter. Stonepine Capital Management LLC now owns 100,000 shares of the specialty pharmaceutical company’s stock worth $1,130,000 after purchasing an additional 78,450 shares during the last quarter.

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.