Kala Pharmaceuticals (NASDAQ:KALA) received a $35.00 target price from analysts at HC Wainwright in a report issued on Friday. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 177.78% from the company’s previous close.
A number of other brokerages have also recently issued reports on KALA. Wedbush dropped their target price on shares of Kala Pharmaceuticals from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Tuesday, May 15th. ValuEngine upgraded shares of Kala Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. BidaskClub cut shares of Kala Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 1st. Finally, Zacks Investment Research upgraded shares of Kala Pharmaceuticals from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Wednesday, July 18th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Kala Pharmaceuticals has an average rating of “Buy” and a consensus target price of $32.71.
Shares of Kala Pharmaceuticals traded down $0.24, reaching $12.60, during mid-day trading on Friday, Marketbeat reports. 143,349 shares of the stock were exchanged, compared to its average volume of 157,207. The company has a current ratio of 20.40, a quick ratio of 20.40 and a debt-to-equity ratio of 0.25. Kala Pharmaceuticals has a fifty-two week low of $11.81 and a fifty-two week high of $26.75.
Kala Pharmaceuticals (NASDAQ:KALA) last announced its earnings results on Thursday, August 9th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.10). analysts predict that Kala Pharmaceuticals will post -1.95 EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. MetLife Investment Advisors LLC bought a new stake in Kala Pharmaceuticals during the 1st quarter worth about $119,000. American International Group Inc. grew its holdings in Kala Pharmaceuticals by 86.6% during the 1st quarter. American International Group Inc. now owns 9,119 shares of the company’s stock worth $144,000 after acquiring an additional 4,232 shares during the last quarter. Rhumbline Advisers bought a new stake in Kala Pharmaceuticals during the 2nd quarter worth about $148,000. The Manufacturers Life Insurance Company grew its holdings in Kala Pharmaceuticals by 489.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 11,778 shares of the company’s stock worth $186,000 after acquiring an additional 9,781 shares during the last quarter. Finally, Tiverton Asset Management LLC bought a new stake in Kala Pharmaceuticals during the 1st quarter worth about $186,000. Institutional investors and hedge funds own 76.83% of the company’s stock.
About Kala Pharmaceuticals
Kala Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapies using its proprietary nanoparticle-based Mucus Penetrating Particles (MPP) technology for the treatment of eye diseases. Its product candidates include KPI-121 1.0%, which has completed Phase III clinical trials for the treatment of inflammation and pain following ocular surgery; INVELTYS that has completed Phase III clinical trials for the temporary relief of the signs and symptoms of dry eye disease; and KPI-285, a MPP receptor tyrosine kinase inhibitor program, which is in preclinical studies for the treatment of retinal diseases.
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