Kalvista Pharmaceuticals (NASDAQ:KALV) Shares Gap Down After Earnings Miss
Shares of Kalvista Pharmaceuticals Inc (NASDAQ:KALV) gapped down before the market opened on Monday following a dissappointing earnings announcement. The stock had previously closed at $13.84, but opened at $13.44. Kalvista Pharmaceuticals shares last traded at $13.61, with a volume of 733 shares.
The specialty pharmaceutical company reported ($0.61) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by ($0.01). Kalvista Pharmaceuticals had a negative return on equity of 31.21% and a negative net margin of 229.45%.
A number of analysts have recently issued reports on KALV shares. ValuEngine lowered shares of Kalvista Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 1st. Zacks Investment Research downgraded shares of Kalvista Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday. HC Wainwright restated a “buy” rating on shares of Kalvista Pharmaceuticals in a research note on Thursday, July 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price target on shares of Kalvista Pharmaceuticals in a research note on Wednesday, July 1st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $22.67.
The stock’s fifty day simple moving average is $12.42 and its 200-day simple moving average is $11.13. The stock has a market cap of $248.49 million, a P/E ratio of -8.46 and a beta of 2.44.
About Kalvista Pharmaceuticals (NASDAQ:KALV)
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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