Kalvista Pharmaceuticals (NASDAQ:KALV) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Kalvista Pharmaceuticals (NASDAQ:KALV) from a buy rating to a sell rating in a research note published on Wednesday morning, 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 a number of other reports. Roth Capital reaffirmed a buy rating on shares of Kalvista Pharmaceuticals in a research report on Tuesday, May 28th. BidaskClub downgraded Vertex Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, July 9th. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. TheStreet raised VEON from a d+ rating to a c- rating in a research report on Thursday, July 11th. Finally, Needham & Company LLC increased their price target on Zuora from $27.00 to $30.00 and gave the company a strong-buy rating in a research report on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $29.40.

Shares of KALV opened at $17.55 on Wednesday. The stock has a market capitalization of $305.19 million, a P/E ratio of -12.72 and a beta of 2.12. The firm’s 50 day simple moving average is $19.70. Kalvista Pharmaceuticals has a 12 month low of $7.95 and a 12 month high of $34.92.

Kalvista Pharmaceuticals (NASDAQ:KALV) last issued its quarterly earnings results on Monday, July 15th. The specialty pharmaceutical company reported ($0.49) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.07). The business had revenue of $2.93 million for the quarter, compared to analysts’ expectations of $3.64 million. Kalvista Pharmaceuticals had a negative net margin of 127.20% and a negative return on equity of 24.57%. Equities analysts forecast that Kalvista Pharmaceuticals will post -2.52 EPS for the current fiscal year.

In other news, Director Albert Cha acquired 61,280 shares of Kalvista Pharmaceuticals stock in a transaction on Friday, July 19th. The stock was acquired at an average cost of $17.79 per share, with a total value of $1,090,171.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Andrew Crockett sold 10,000 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $17.04, for a total value of $170,400.00. Following the transaction, the chief executive officer now directly owns 248,510 shares of the company’s stock, valued at $4,234,610.40. The disclosure for this sale can be found here. Insiders have sold 20,428 shares of company stock valued at $440,900 over the last ninety days. 38.40% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can grew its holdings in Kalvista Pharmaceuticals by 28.5% during the first quarter. Bank of Montreal Can now owns 5,824 shares of the specialty pharmaceutical company’s stock valued at $166,000 after purchasing an additional 1,292 shares during the period. Marshall Wace North America L.P. bought a new position in Kalvista Pharmaceuticals during the first quarter valued at $175,000. Tibra Equities Europe Ltd bought a new position in Kalvista Pharmaceuticals during the first quarter valued at $727,000. Marshall Wace LLP bought a new position in Kalvista Pharmaceuticals during the first quarter valued at $843,000. Finally, Northern Trust Corp grew its holdings in Kalvista Pharmaceuticals by 32.7% during the fourth quarter. Northern Trust Corp now owns 40,728 shares of the specialty pharmaceutical company’s stock valued at $805,000 after purchasing an additional 10,034 shares during the period. 80.64% of the stock is owned by institutional investors and hedge funds.

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.

Recommended Story: How Do You Calculate Return on Equity (ROE)?

Get a free copy of the Zacks research report on Kalvista Pharmaceuticals (KALV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Kalvista Pharmaceuticals (NASDAQ:KALV)

Receive News & Ratings for Kalvista Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kalvista Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.