Needham & Company LLC Cuts KalVista Pharmaceuticals (NASDAQ:KALV) Price Target to $32.00

KalVista Pharmaceuticals (NASDAQ:KALV) had its price objective reduced by Needham & Company LLC from $35.00 to $32.00 in a research note published on Friday, Benzinga reports. Needham & Company LLC currently has a buy rating on the specialty pharmaceutical company’s stock.

Separately, HC Wainwright cut their target price on shares of KalVista Pharmaceuticals from $24.00 to $20.00 and set a buy rating on the stock in a research report on Friday, May 3rd.

KalVista Pharmaceuticals Price Performance

Shares of NASDAQ:KALV opened at $13.04 on Friday. The company’s 50 day simple moving average is $11.86 and its 200 day simple moving average is $12.45. The stock has a market capitalization of $550.16 million, a price-to-earnings ratio of -3.84 and a beta of 0.91. KalVista Pharmaceuticals has a 1 year low of $7.21 and a 1 year high of $16.88.

KalVista Pharmaceuticals (NASDAQ:KALV) last announced its quarterly earnings data on Thursday, July 11th. The specialty pharmaceutical company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.29). As a group, analysts anticipate that KalVista Pharmaceuticals will post -2.65 EPS for the current fiscal year.

Insider Transactions at KalVista Pharmaceuticals

In other news, CEO Benjamin L. Palleiko sold 21,959 shares of KalVista Pharmaceuticals stock in a transaction on Monday, May 20th. The shares were sold at an average price of $11.76, for a total transaction of $258,237.84. Following the transaction, the chief executive officer now owns 216,387 shares in the company, valued at $2,544,711.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Benjamin L. Palleiko sold 7,465 shares of KalVista Pharmaceuticals stock in a transaction on Friday, June 7th. The shares were sold at an average price of $11.53, for a total transaction of $86,071.45. Following the transaction, the chief executive officer now owns 224,547 shares in the company, valued at $2,589,026.91. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Benjamin L. Palleiko sold 21,959 shares of KalVista Pharmaceuticals stock in a transaction on Monday, May 20th. The stock was sold at an average price of $11.76, for a total transaction of $258,237.84. Following the transaction, the chief executive officer now owns 216,387 shares in the company, valued at approximately $2,544,711.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,512 shares of company stock worth $439,424. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Frazier Life Sciences Management L.P. raised its stake in KalVista Pharmaceuticals by 11.8% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,622,294 shares of the specialty pharmaceutical company’s stock worth $44,373,000 after buying an additional 383,435 shares during the last quarter. Vanguard Group Inc. raised its stake in KalVista Pharmaceuticals by 9.6% during the third quarter. Vanguard Group Inc. now owns 1,732,489 shares of the specialty pharmaceutical company’s stock worth $16,684,000 after buying an additional 151,808 shares during the last quarter. SG Americas Securities LLC raised its stake in KalVista Pharmaceuticals by 5.1% during the fourth quarter. SG Americas Securities LLC now owns 137,817 shares of the specialty pharmaceutical company’s stock worth $1,688,000 after buying an additional 6,670 shares during the last quarter. AJOVista LLC bought a new position in KalVista Pharmaceuticals during the fourth quarter worth $60,000. Finally, China Universal Asset Management Co. Ltd. bought a new position in KalVista Pharmaceuticals during the fourth quarter worth $49,000.

About KalVista Pharmaceuticals

KalVista Pharmaceuticals, Inc, a clinical stage pharmaceutical company, engages in the discovery, development, and commercialization of small molecule protease inhibitors for diseases with unmet needs in the United States. The company's product portfolio comprises small molecule plasma kallikrein inhibitors targeting hereditary angioedema (HAE) and diabetic macular edema (DME); and oral plasma kallikrein inhibitors.