Needham & Company LLC Lowers Kalvista Pharmaceuticals (NASDAQ:KALV) Price Target to $28.00

Kalvista Pharmaceuticals (NASDAQ:KALV) had its price objective reduced by Needham & Company LLC from $35.00 to $28.00 in a research note released on Tuesday morning, The Fly reports. Needham & Company LLC currently has a buy rating on the specialty pharmaceutical company’s stock.

Several other research firms have also commented on KALV. Roth Capital set a $30.00 price target on shares of Kalvista Pharmaceuticals and gave the company a buy rating in a research report on Friday, September 6th. BidaskClub upgraded shares of Kalvista Pharmaceuticals from a sell rating to a hold rating in a report on Friday, November 29th. ValuEngine raised shares of Kalvista Pharmaceuticals from a hold rating to a buy rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded shares of Kalvista Pharmaceuticals from a hold rating to a buy rating and set a $16.00 price objective for the company in a research note on Friday, December 6th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Kalvista Pharmaceuticals has a consensus rating of Buy and an average price target of $28.00.

KALV opened at $15.40 on Tuesday. The company has a current ratio of 10.31, a quick ratio of 10.30 and a debt-to-equity ratio of 0.01. The firm has a market cap of $255.56 million, a price-to-earnings ratio of -11.16 and a beta of 2.16. Kalvista Pharmaceuticals has a 12 month low of $9.86 and a 12 month high of $34.92. The stock has a fifty day moving average price of $12.44 and a 200-day moving average price of $15.67.

Kalvista Pharmaceuticals (NASDAQ:KALV) last issued its quarterly earnings data on Tuesday, December 3rd. The specialty pharmaceutical company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.22. Kalvista Pharmaceuticals had a negative return on equity of 25.70% and a negative net margin of 182.37%. The company had revenue of $3.92 million for the quarter, compared to the consensus estimate of $3.23 million. On average, equities research analysts forecast that Kalvista Pharmaceuticals will post -1.83 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. Orbimed Advisors LLC purchased a new position in Kalvista Pharmaceuticals during the 3rd quarter worth $449,000. Squarepoint Ops LLC lifted its stake in shares of Kalvista Pharmaceuticals by 73.9% during the third quarter. Squarepoint Ops LLC now owns 123,887 shares of the specialty pharmaceutical company’s stock worth $1,437,000 after buying an additional 52,643 shares during the period. Pictet Asset Management Ltd. grew its holdings in shares of Kalvista Pharmaceuticals by 20.0% during the third quarter. Pictet Asset Management Ltd. now owns 545,475 shares of the specialty pharmaceutical company’s stock valued at $6,328,000 after buying an additional 90,989 shares during the last quarter. Eventide Asset Management LLC grew its holdings in shares of Kalvista Pharmaceuticals by 12.0% during the third quarter. Eventide Asset Management LLC now owns 1,680,000 shares of the specialty pharmaceutical company’s stock valued at $19,488,000 after buying an additional 180,000 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Kalvista Pharmaceuticals by 13.6% during the third quarter. State Street Corp now owns 228,151 shares of the specialty pharmaceutical company’s stock valued at $2,647,000 after buying an additional 27,325 shares during the last quarter. 82.31% of the stock is owned by hedge funds and other institutional investors.

About Kalvista Pharmaceuticals

KalVista Pharmaceuticals, Inc, a clinical stage pharmaceutical company, discovers, develops, and commercializes small molecule protease inhibitors. 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.

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