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Is it a Good Idea to Invest in KalVista (KALV) Stock Now?

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KalVista Pharmaceuticals (KALV - Free Report) is a clinical-stage biotech, which makes oral, small-molecule protease inhibitors.

Cambridge, MA-based KalVista Pharmaceuticals is developing sebetralstat as an oral on-demand therapy for hereditary angioedema (HAE) attacks. There is a significant unmet need for efficacious on-demand oral treatments for HAE due to the burden associated with injectable on-demand treatments which are available at present. Enrollment is complete (114 patients) in the pivotal phase III KONFIDENT study. Data from the KONFIDENT study are expected to be reported in the fourth quarter of 2023, which, if positive, would lead KalVista to file a new drug application in the first half of 2024.

Sebetralstat, if approved, should be able to capture a large market share. Data from a phase II efficacy study, released in 2021, showed that sebetralstat led to statistically and clinically significant responses across all primary and secondary endpoints.

KalVista Pharmaceuticals completed a $58 million financing (via a registered direct offering) in 2022 that will fund the company into 2025, which is well beyond its phase III data readout timeline.

In addition to sebetralstat, KalVista is also developing an oral Factor XIIa inhibitor, a new generation of therapy, for the prophylactic treatment of HAE for which phase I studies are expected to begin in 2023

With a strong cash position and pivotal data readout expected this year, investor focus remains on KALV stock

The stock of KalVista Pharmaceuticals has risen 46.9% so far this year against a decrease of 6% for the industry.


Zacks Investment Research
Image Source: Zacks Investment Research

KalVista Pharmaceuticals has a Zacks Rank #2 (Buy). Estimates for KalVista Pharmaceuticals’ 2023 loss per share have narrowed from $3.03 per share to a loss of $2.83 per share over the past 60 days while those for 2024 have narrowed from a loss of $2.48 per share to a loss of $2.36 per share over the same timeframe.

KalVista Pharmaceuticals, Inc. Price and Consensus


Other Stocks to Consider

Some other top-ranked drug companies worth considering are Aurinia Pharmaceuticals (AUPH - Free Report) , Alpine Immune Sciences (ALPN - Free Report) and Corcept Therapeutics (CORT - Free Report) , each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

In the past 60 days, the loss per share estimate for Aurinia Pharmaceuticals for 2023 has narrowed from 71 cents per share to 58 cents per share, while that for 2024 has narrowed from 43 cents to 28 cents. Year to date, shares of Aurinia Pharmaceuticals have gained 99.3%.

Earnings of Aurinia Pharmaceuticals beat estimates in all the last four quarters, delivering an earnings surprise of 45.61% on average.

Alpine’s stock has gained 65.5% so far this year. In the past 60 days, estimates for Alpine’s 2023 loss per share have narrowed from $1.43 to $1.18, while those for 2024 have improved from a loss of $1.73 to a loss of $1.47 per share.

ALPN’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average negative surprise of 79.65%.

In the past 60 days, the Zacks Consensus Estimate for Corcept’s earnings has increased from 62 cents per share to 78 cents for 2023. The bottom-line estimate has also improved from 61 cents to 83 cents for 2024 during the same time frame. Shares of the company have rallied 62.4% year to date.

CORT’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 6.99%.

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