JMP Securities Initiates Coverage on KalVista Pharmaceuticals (NASDAQ:KALV)

Equities research analysts at JMP Securities initiated coverage on shares of KalVista Pharmaceuticals (NASDAQ:KALV) in a report issued on Friday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $19.00 price target on the specialty pharmaceutical company’s stock. JMP Securities’ target price suggests a potential upside of 116.65% from the stock’s current price.

KALV has been the subject of a number of other research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective on shares of KalVista Pharmaceuticals in a research note on Thursday, December 5th. Bank of America began coverage on shares of KalVista Pharmaceuticals in a report on Wednesday, December 18th. They set a “buy” rating and a $22.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of KalVista Pharmaceuticals in a report on Monday, December 9th. 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 target price for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of KalVista Pharmaceuticals in a research note on Friday, December 6th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, KalVista Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $23.80.

KalVista Pharmaceuticals Stock Performance

NASDAQ KALV opened at $8.77 on Friday. KalVista Pharmaceuticals has a 12 month low of $7.30 and a 12 month high of $16.88. The stock has a market cap of $433.41 million, a price-to-earnings ratio of -2.41 and a beta of 0.86. The company’s 50 day moving average is $8.86 and its two-hundred day moving average is $10.94.

KalVista Pharmaceuticals (NASDAQ:KALV) last announced its quarterly earnings data on Thursday, December 5th. The specialty pharmaceutical company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.01. Sell-side analysts forecast that KalVista Pharmaceuticals will post -3.56 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Benjamin L. Palleiko sold 14,400 shares of the firm’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 sale, the chief executive officer now directly owns 266,598 shares in the company, valued at $2,468,697.48. This trade represents a 5.12 % 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 Paul K. Audhya sold 8,077 shares of the business’s stock in a transaction on 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 in the company, valued at $872,282.74. This trade represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,291 shares of company stock valued at $304,086 in the last three months. Corporate insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. raised its position in KalVista Pharmaceuticals by 67.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 8,286 shares of the specialty pharmaceutical company’s stock valued at $96,000 after purchasing an additional 3,328 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of KalVista Pharmaceuticals during the third quarter valued at $126,000. SG Americas Securities LLC bought a new stake in shares of KalVista Pharmaceuticals in the third quarter valued at about $153,000. Quest Partners LLC purchased a new stake in KalVista Pharmaceuticals in the third quarter worth about $175,000. Finally, The Manufacturers Life Insurance Company grew its holdings in KalVista Pharmaceuticals by 27.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,437 shares of the specialty pharmaceutical company’s stock worth $182,000 after acquiring an additional 3,314 shares in the last quarter.

KalVista Pharmaceuticals Company Profile

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).