Needham & Company LLC Reiterates Buy Rating for KalVista Pharmaceuticals (NASDAQ:KALV)

Needham & Company LLC restated their buy rating on shares of KalVista Pharmaceuticals (NASDAQ:KALV) in a research report report published on Thursday morning,Benzinga reports. The firm currently has a $28.00 price objective on the specialty pharmaceutical company’s stock.

Other equities research analysts have also recently issued reports about the company. Citizens Jmp upgraded KalVista Pharmaceuticals to a “strong-buy” rating in a report on Friday, January 31st. JMP Securities assumed coverage on KalVista Pharmaceuticals in a report on Friday, January 31st. They issued an “outperform” rating and a $19.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of KalVista Pharmaceuticals in a research note on Friday, December 6th. Bank of America assumed coverage on KalVista Pharmaceuticals in a research note on Wednesday, December 18th. They issued a “buy” rating and a $22.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of KalVista Pharmaceuticals in a research report on Monday, December 9th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, KalVista Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $23.80.

KalVista Pharmaceuticals Stock Up 2.9 %

Shares of NASDAQ KALV opened at $12.60 on Thursday. The firm has a market capitalization of $622.67 million, a P/E ratio of -3.46 and a beta of 0.76. The stock’s 50-day simple moving average is $9.75 and its two-hundred day simple moving average is $10.28. KalVista Pharmaceuticals has a twelve month low of $7.30 and a twelve month high of $15.50.

Insiders Place Their Bets

In related news, insider Paul K. Audhya sold 3,125 shares of KalVista Pharmaceuticals stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $9.82, for a total transaction of $30,687.50. Following the transaction, the insider now directly owns 100,334 shares in the company, valued at approximately $985,279.88. The trade was a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Benjamin L. Palleiko sold 6,669 shares of KalVista Pharmaceuticals stock in a transaction on Friday, March 7th. The shares were sold at an average price of $11.97, for a total value of $79,827.93. Following the transaction, the chief executive officer now owns 287,811 shares in the company, valued at $3,445,097.67. This trade represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders acquired 236,055 shares of company stock valued at $2,162,146 and sold 17,292 shares valued at $184,625. Corporate insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Several large investors have recently made changes to their positions in KALV. Aquatic Capital Management LLC purchased a new position in shares of KalVista Pharmaceuticals in the fourth quarter valued at about $44,000. Tower Research Capital LLC TRC increased its holdings in shares of KalVista Pharmaceuticals by 666.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,327 shares of the specialty pharmaceutical company’s stock worth $54,000 after purchasing an additional 5,502 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of KalVista Pharmaceuticals by 22.5% in the fourth quarter. Legal & General Group Plc now owns 8,144 shares of the specialty pharmaceutical company’s stock worth $69,000 after purchasing an additional 1,494 shares during the last quarter. Martin Worley Group bought a new stake in shares of KalVista Pharmaceuticals in the fourth quarter worth about $86,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in 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.

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).