Cantor Fitzgerald analyst Charles Duncan maintained a Buy rating on KalVista Pharmaceuticals Inc (NASDAQ: KALV) today and set a price target of $32. The company’s shares closed yesterday at $22.42, close to its 52-week high of $23.97.
Duncan commented:
“We are Overweight and have a 12-month PT of $32 on shares of KALV based on lead assets KVD900 for HAE and KVD001 for DME. In our view, increasing visibility of pipeline progress should broaden and enhance investor conviction and drive revenue projections beyond current estimates. First look PK/PD data for oral ‘900 showed exposure levels reaching 2x IC50 in only ~20 minutes, similar to levels/ timing for approved SC-administered C1 inhibitors, thus having a profile that we view as potentially disruptive.”
According to TipRanks.com, Duncan is a 3-star analyst with an average return of 3.0% and a 48.1% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Corcept Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for KalVista Pharmaceuticals Inc with a $27 average price target.
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Based on KalVista Pharmaceuticals Inc’s latest earnings release for the quarter ending July 31, the company reported a quarterly GAAP net loss of $5.03 million. In comparison, last year the company had a GAAP net loss of $4.93 million.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KALV in relation to earlier this year.
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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.
