NasdaqGM:KALV

Stock Analysis Report

Executive Summary

KalVista Pharmaceuticals, Inc., a clinical stage pharmaceutical company, discovers, develops, and commercializes small molecule protease inhibitors.


Snowflake Analysis

Flawless balance sheet with high growth potential.

Share Price & News

How has KalVista Pharmaceuticals's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: KALV's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

15.9%

KALV

1.2%

US Biotechs

1.2%

US Market


1 Year Return

12.4%

KALV

12.4%

US Biotechs

24.2%

US Market

Return vs Industry: KALV exceeded the US Biotechs industry which returned 11.3% over the past year.

Return vs Market: KALV underperformed the US Market which returned 24.7% over the past year.


Shareholder returns

KALVIndustryMarket
7 Day15.9%1.2%1.2%
30 Day7.1%0.2%3.5%
90 Day61.0%17.5%11.7%
1 Year12.4%12.4%13.4%12.4%26.9%24.2%
3 Year152.2%152.2%30.1%25.8%53.0%43.2%
5 Yearn/a2.6%-2.3%75.3%56.0%

Price Volatility Vs. Market

How volatile is KalVista Pharmaceuticals's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is KalVista Pharmaceuticals undervalued compared to its fair value and its price relative to the market?

3.38x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate KALV's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate KALV's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: KALV is unprofitable, so we can't compare its PE Ratio to the Biotechs industry average.

PE vs Market: KALV is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate KALV's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: KALV is overvalued based on its PB Ratio (3.4x) compared to the US Biotechs industry average (3.3x).


Next Steps

Future Growth

How is KalVista Pharmaceuticals forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

49.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KALV is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.7%).

Earnings vs Market: KALV is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: KALV's is expected to become profitable in the next 3 years.

Revenue vs Market: KALV's revenue (52.9% per year) is forecast to grow faster than the US market (7.5% per year).

High Growth Revenue: KALV's revenue (52.9% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if KALV's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has KalVista Pharmaceuticals performed over the past 5 years?

-8.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: KALV is currently unprofitable.

Growing Profit Margin: KALV is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: KALV is unprofitable, and losses have increased over the past 5 years at a rate of -8% per year.

Accelerating Growth: Unable to compare KALV's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: KALV is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (103.3%).


Return on Equity

High ROE: KALV has a negative Return on Equity (-26.31%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is KalVista Pharmaceuticals's financial position?


Financial Position Analysis

Short Term Liabilities: KALV's short term assets ($107.9M) exceed its short term liabilities ($10.5M).

Long Term Liabilities: KALV's short term assets ($107.9M) exceed its long term liabilities ($3.8M).


Debt to Equity History and Analysis

Debt Level: KALV is debt free.

Reducing Debt: KALV has not had any debt for past 5 years.


Balance Sheet

Inventory Level: KALV has a low level of unsold assets or inventory.

Debt Coverage by Assets: KALV's debt is covered by short term assets (assets are 4.8590237099626E+17x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: KALV has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: KALV has sufficient cash runway for 1.7 years if free cash flow continues to reduce at historical rates of -26.5% each year.


Next Steps

Dividend

What is KalVista Pharmaceuticals's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage2.1%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate KALV's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate KALV's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if KALV's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if KALV's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of KALV's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of KalVista Pharmaceuticals's salary, the management and board of directors tenure and is there insider trading?

3.2yrs

Average management tenure


CEO

Andy Crockett (44yo)

3.2yrs

Tenure

US$3,287,944

Compensation

Mr. Thomas Andrew Crockett, also known as Andy, M.B.A., has been Chief Executive Officer and Director of KalVista Pharmaceuticals, Inc. since November 21, 2016. Mr. Crockett is the Founder of KalVista Pha ...


CEO Compensation Analysis

Compensation vs Market: Andy's total compensation ($USD3.29M) is above average for companies of similar size in the US market ($USD1.08M).

Compensation vs Earnings: Andy's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

3.2yrs

Average Tenure

54yo

Average Age

Experienced Management: KALV's management team is considered experienced (3.2 years average tenure).


Board Age and Tenure

3.2yrs

Average Tenure

61.5yo

Average Age

Experienced Board: KALV's board of directors are considered experienced (3.2 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$118,75030 Sep 19
Daniel Soland
EntityIndividual
Role
Member of the Board of Directors
Director
Shares10,000
Max PriceUS$11.90
BuyUS$957,73730 Jul 19
Vivo Capital, LLC
EntityCompany
Shares56,367
Max PriceUS$17.13
BuyUS$1,090,29619 Jul 19
Vivo Capital, LLC
EntityCompany
Shares61,280
Max PriceUS$17.84
SellUS$4,469,50324 Apr 19
RA Capital Management, LLC
EntityCompany
Shares172,300
Max PriceUS$25.95
BuyUS$13,599,76915 Apr 19
RA Capital Management, LLC
EntityCompany
Shares482,500
Max PriceUS$29.56
SellUS$1,460,14510 Apr 19
SV Health Investors, LLC
EntityCompany
Shares50,000
Max PriceUS$29.49
SellUS$2,720,89702 Apr 19
SV Health Investors, LLC
EntityCompany
Shares97,074
Max PriceUS$28.76
SellUS$3,596,03228 Mar 19
SV Health Investors, LLC
EntityCompany
Shares124,675
Max PriceUS$29.70
SellUS$7,007,94920 Mar 19
SV Health Investors, LLC
EntityCompany
Shares262,470
Max PriceUS$26.70
SellUS$14,375,00020 Mar 19
VR Adviser, LLC
EntityCompany
Shares500,000
Max PriceUS$28.75
SellUS$1,738,47606 Mar 19
SV Health Investors, LLC
EntityCompany
Shares75,710
Max PriceUS$23.04
SellUS$4,401,35321 Feb 19
SV Health Investors, LLC
EntityCompany
Shares214,198
Max PriceUS$20.73

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 46.9%.


Management Team

  • Andy Crockett (44yo)

    CEO & Director

    • Tenure: 3.2yrs
    • Compensation: US$3.29m
  • Ben Palleiko (53yo)

    Chief Business Officer & CFO

    • Tenure: 3.4yrs
    • Compensation: US$2.09m
  • Stephen Donnelly

    Director of Finance and Company Secretary

    • Rachel Morten

      Head of Regulatory Affairs and QA

      • Chris Yea (55yo)

        Chief Development Officer

        • Tenure: 3.2yrs
      • Andreas Maetzel (56yo)

        Senior Vice President of Medical

        • Tenure: 2.8yrs
        • Compensation: US$416.74k
      • John McKune (43yo)

        Vice President of Finance

        • Compensation: US$516.08k
      • Ed Feener (59yo)

        Chief Scientific Officer

        • Tenure: 3.2yrs
        • Compensation: US$1.59m
      • Leah Monteiro

        Director of Corporate Communications & Investor Relations

        • Michael Smith

          Senior Vice President of Development

          • Tenure: 0.08yrs

        Board Members

        • Arnie Oronsky (80yo)

          Director

          • Tenure: 3.2yrs
          • Compensation: US$165.34k
        • Martin Edwards (63yo)

          Chairman

          • Tenure: 0.6yrs
        • Ed Unkart (69yo)

          Director

          • Tenure: 3.2yrs
          • Compensation: US$165.34k
        • Albert Cha (47yo)

          Director

          • Tenure: 3.2yrs
          • Compensation: US$165.97k
        • Dan Soland (63yo)

          Director

          • Tenure: 0.8yrs
          • Compensation: US$264.78k
        • Brian J. Pereira (60yo)

          Director

          • Tenure: 0.9yrs
          • Compensation: US$191.48k
        • Bong Koh (46yo)

          Board Observer

          • Tenure: 4.5yrs
        • Andy Crockett (44yo)

          CEO & Director

          • Tenure: 3.2yrs
          • Compensation: US$3.29m
        • Tomas Kiselak

          Board Observer

          • Tenure: 4.5yrs

        Company Information

        KalVista Pharmaceuticals, Inc.'s company bio, employee growth, exchange listings and data sources


        Key Information

        • Name: KalVista Pharmaceuticals, Inc.
        • Ticker: KALV
        • Exchange: NasdaqGM
        • Founded:
        • Industry: Biotechnology
        • Sector: Pharmaceuticals & Biotech
        • Market Cap: US$331.001m
        • Shares outstanding: 17.83m
        • Website: https://www.kalvista.com

        Number of Employees


        Location

        • KalVista Pharmaceuticals, Inc.
        • 55 Cambridge Parkway
        • Suite 901 East
        • Cambridge
        • Massachusetts
        • 2142
        • United States

        Listings

        TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
        KALVNasdaqGM (Nasdaq Global Market)YesNew Ordinary SharesUSUSDNov 2016
        4XC1DB (Deutsche Boerse AG)YesNew Ordinary SharesDEEURNov 2016

        Biography

        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. Its products include KVD001, a plasma kallikrein inhibitor that is in Phase II clinical trials for the treatment of DME; KVD900, which is in Phase II clinical trial for treating HAE; and KVD824, an oral plasma kallikrein inhibitor that is in Phase I clinical trial for treating DME or HAE. The company is headquartered in Cambridge, Massachusetts. 


        Company Analysis and Financial Data Status

        All financial data provided by Standard & Poor's Capital IQ.
        DataLast Updated (UTC time)
        Company Analysis2020/01/21 00:37
        End of Day Share Price2020/01/17 00:00
        Earnings2019/10/31
        Annual Earnings2019/04/30


        Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.