In a report released yesterday, Charles Duncan from Cantor Fitzgerald reiterated a Buy rating on KalVista Pharmaceuticals Inc (KALV), with a price target of $32. The company’s shares closed yesterday at $31.10, close to its 52-week high of $34.92.
Duncan said:
“. We reiterate our Overweight rating and price target of $32 per share on KALV. KalVista reported its FY3Q19 financial performance, ending the period with cash of $111.1M. Our model projects sufficient funding into 2021 and through clinical milestones including P2 data for KVD900 in acute HAE (2H19), P2 data for KVD001 in DME (2H19, includes Merck (MRK, OW, L Chen) option decision on KVD001), and an update on KVD824 (indication undisclosed), which has entered first-in-human studies.”
According to TipRanks.com, Duncan is a 4-star analyst with an average return of 3.3% and a 48.7% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Crinetics Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
Currently, the analyst consensus on KalVista Pharmaceuticals Inc is a Moderate Buy with an average price target of $28.50.
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The company has a one-year high of $34.92 and a one-year low of $7.73. Currently, KalVista Pharmaceuticals Inc has an average volume of 78.51K.
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is negative on the stock.
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KalVista Pharmaceuticals, Inc. is a pharmaceutical company, which engages in the discovery, development, and commercialization of small molecule protease inhibitors. It offers small molecule plasma kallikrein for the treatment of hereditary angioedema; diabetic macular edema; and other plasma kallikrein-associated diseases.
