Kala Pharmaceuticals (NASDAQ:KALA) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, April 4th.
A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Kala Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, April 4th. Wells Fargo restated an “outperform” rating and set a $19.00 price target (down from $24.00) on shares of Kala Pharmaceuticals in a research report on Thursday, January 25th. They noted that the move was a valuation call. Finally, Wedbush restated an “outperform” rating and set a $46.00 price target on shares of Kala Pharmaceuticals in a research report on Friday, December 22nd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $35.80.
Kala Pharmaceuticals stock opened at $16.39 on Wednesday. Kala Pharmaceuticals has a 52 week low of $11.81 and a 52 week high of $26.75. The company has a current ratio of 7.97, a quick ratio of 7.97 and a debt-to-equity ratio of 0.13. The company has a market cap of $401.25 and a price-to-earnings ratio of -2.81.
Kala Pharmaceuticals (NASDAQ:KALA) last posted its quarterly earnings results on Monday, March 26th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.09). sell-side analysts expect that Kala Pharmaceuticals will post -1.98 earnings per share for the current fiscal year.
In other Kala Pharmaceuticals news, major shareholder Orbimed Advisors Llc purchased 75,000 shares of the stock in a transaction on Monday, January 22nd. The stock was acquired at an average cost of $14.98 per share, with a total value of $1,123,500.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 697,328 shares of company stock valued at $10,393,330 over the last three months.
Several large investors have recently modified their holdings of KALA. Bank of New York Mellon Corp bought a new position in shares of Kala Pharmaceuticals during the third quarter valued at about $540,000. American International Group Inc. bought a new position in Kala Pharmaceuticals in the third quarter worth about $122,000. JPMorgan Chase & Co. bought a new position in Kala Pharmaceuticals in the third quarter worth about $4,037,000. Wells Fargo & Company MN bought a new position in Kala Pharmaceuticals in the third quarter worth about $3,752,000. Finally, Schwab Charles Investment Management Inc. bought a new position in Kala Pharmaceuticals in the third quarter worth about $313,000. 72.30% of the stock is owned by hedge funds and other institutional investors.
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Kala Pharmaceuticals Company Profile
Kala Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapies using its proprietary nanoparticle-based Mucus Penetrating Particles technology. The company's product candidates include KPI-121 1.0%, which has completed Phase 3 clinical trials for the treatment of inflammation and pain following ocular surgery; and KPI-121 0.25% that is in Phase 3 clinical trials for the temporary relief of the signs and symptoms of dry eye disease.
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