KalVista Pharmaceuticals (NASDAQ:KALV) Releases Earnings Results, Misses Estimates By $2.86 EPS

KalVista Pharmaceuticals (NASDAQ:KALV) posted its quarterly earnings results on Thursday. The specialty pharmaceutical company reported ($3.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.83) by ($2.86), RTT News reports. During the same period last year, the business earned ($1.07) EPS.

KalVista Pharmaceuticals Price Performance

Shares of KalVista Pharmaceuticals stock opened at $14.52 on Friday. The firm has a market cap of $721.93 million, a P/E ratio of -3.93 and a beta of -0.04. The firm has a 50 day simple moving average of $12.57 and a 200 day simple moving average of $11.23. KalVista Pharmaceuticals has a fifty-two week low of $7.30 and a fifty-two week high of $16.32.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. HC Wainwright upped their price objective on shares of KalVista Pharmaceuticals from $20.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday. JMP Securities raised their price target on KalVista Pharmaceuticals from $19.00 to $27.00 and gave the company a “market outperform” rating in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $28.00 price objective on shares of KalVista Pharmaceuticals in a research report on Tuesday, April 8th. Leerink Partners raised their target price on KalVista Pharmaceuticals from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, July 7th. Finally, Jones Trading reaffirmed a “buy” rating and issued a $30.00 price target on shares of KalVista Pharmaceuticals in a research report on Wednesday, March 26th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $26.29.

Insider Buying and Selling

In other KalVista Pharmaceuticals news, CEO Benjamin L. Palleiko sold 32,979 shares of KalVista Pharmaceuticals stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $15.69, for a total transaction of $517,440.51. Following the completion of the sale, the chief executive officer owned 369,595 shares of the company’s stock, valued at approximately $5,798,945.55. The trade was a 8.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul K. Audhya sold 2,776 shares of KalVista Pharmaceuticals stock in a transaction on Monday, May 19th. The stock was sold at an average price of $11.84, for a total transaction of $32,867.84. Following the sale, the insider directly owned 106,611 shares of the company’s stock, valued at $1,262,274.24. This represents a 2.54% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 48,878 shares of company stock valued at $723,617. 10.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On KalVista Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in KALV. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of KalVista Pharmaceuticals by 13.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,325 shares of the specialty pharmaceutical company’s stock worth $281,000 after purchasing an additional 2,939 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of KalVista Pharmaceuticals during the first quarter worth $646,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of KalVista Pharmaceuticals by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 339,936 shares of the specialty pharmaceutical company’s stock worth $3,923,000 after purchasing an additional 12,263 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).