Zacks Investment Research Downgrades Kalvista Pharmaceuticals (KALV) to Hold

Zacks Investment Research downgraded shares of Kalvista Pharmaceuticals (NASDAQ:KALV) from a strong-buy rating to a hold rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “KalVista Pharmaceuticals, Inc. is a pharmaceuticals company. It engages in discovery, development and commercialization of small molecule protease inhibitors for diseases with significant unmet need. Its product portfolio consist hereditary angioedema and diabetic macular edema, KVD818 and KVD001, which are in clinical stage. KalVista Pharmaceuticals, Inc., formerly known as Carbylan Therapeutics, Inc., is headquartered in Cambridge, United States. “

KALV has been the subject of several other reports. Needham & Company LLC initiated coverage on Kalvista Pharmaceuticals in a report on Wednesday, March 20th. They set a buy rating and a $35.00 price target for the company. Roth Capital raised their price target on Kalvista Pharmaceuticals from $25.00 to $30.00 and gave the company a buy rating in a report on Wednesday, May 15th. BidaskClub downgraded Kalvista Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, April 16th. Finally, ValuEngine upgraded Kalvista Pharmaceuticals from a hold rating to a buy rating in a report on Monday, February 4th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $30.60.

Shares of KALV stock opened at $23.14 on Wednesday. Kalvista Pharmaceuticals has a 52 week low of $7.73 and a 52 week high of $34.92. The firm has a market capitalization of $404.11 million, a P/E ratio of -15.12 and a beta of 2.32.

Kalvista Pharmaceuticals (NASDAQ:KALV) last issued its quarterly earnings results on Thursday, March 14th. The specialty pharmaceutical company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.22. Kalvista Pharmaceuticals had a negative return on equity of 19.12% and a negative net margin of 70.08%. The firm had revenue of $3.89 million during the quarter, compared to the consensus estimate of $3.97 million. As a group, analysts expect that Kalvista Pharmaceuticals will post -1.43 EPS for the current fiscal year.

In related news, major shareholder Svlsf Iv, Llc sold 43,378 shares of Kalvista Pharmaceuticals stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $22.91, for a total value of $993,789.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Venrock Healthcare Capital Par sold 500,000 shares of Kalvista Pharmaceuticals stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $28.75, for a total value of $14,375,000.00. The disclosure for this sale can be found here. Insiders sold a total of 901,521 shares of company stock valued at $25,597,568 over the last quarter. 38.40% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Flinton Capital Management LLC bought a new stake in Kalvista Pharmaceuticals in the 4th quarter worth about $26,000. Ramsey Quantitative Systems purchased a new position in Kalvista Pharmaceuticals in the fourth quarter worth about $35,000. Bank of Montreal Can purchased a new position in Kalvista Pharmaceuticals in the fourth quarter worth about $90,000. Marshall Wace North America L.P. purchased a new position in Kalvista Pharmaceuticals in the first quarter worth about $175,000. Finally, Morgan Stanley boosted its position in Kalvista Pharmaceuticals by 780.7% in the first quarter. Morgan Stanley now owns 7,486 shares of the specialty pharmaceutical company’s stock worth $214,000 after purchasing an additional 6,636 shares during the last quarter. Institutional investors own 79.52% of the company’s stock.

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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