Shares of Kala Pharmaceuticals Inc (NASDAQ:KALA) have been given a consensus recommendation of “Hold” by the seven analysts that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $33.25.
A number of brokerages have issued reports on KALA. Wedbush reiterated an “outperform” rating and set a $47.00 price objective on shares of Kala Pharmaceuticals in a research note on Wednesday, June 20th. BidaskClub upgraded Kala Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. HC Wainwright set a $35.00 price objective on Kala Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, August 10th. Wells Fargo & Co reiterated a “buy” rating on shares of Kala Pharmaceuticals in a research note on Thursday, August 23rd. Finally, Zacks Investment Research upgraded Kala Pharmaceuticals from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Wednesday, July 18th.
In other Kala Pharmaceuticals news, Director Ra Capital Healthcare Fund Lp bought 2,424,242 shares of Kala Pharmaceuticals stock in a transaction on Wednesday, October 3rd. The stock was acquired at an average price of $8.25 per share, with a total value of $19,999,996.50. The purchase was disclosed in a document filed with the SEC, which is available at this link. 35.58% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of Kala Pharmaceuticals by 36.5% in the 1st quarter. BlackRock Inc. now owns 1,007,691 shares of the company’s stock worth $15,951,000 after purchasing an additional 269,641 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Kala Pharmaceuticals by 865.5% in the 1st quarter. Millennium Management LLC now owns 998,319 shares of the company’s stock worth $15,803,000 after purchasing an additional 894,919 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Kala Pharmaceuticals by 26.7% in the 1st quarter. Wells Fargo & Company MN now owns 363,289 shares of the company’s stock worth $5,751,000 after purchasing an additional 76,595 shares in the last quarter. Brown Advisory Inc. bought a new stake in shares of Kala Pharmaceuticals in the 1st quarter worth $3,957,000. Finally, Northern Trust Corp grew its holdings in shares of Kala Pharmaceuticals by 82.2% in the first quarter. Northern Trust Corp now owns 133,004 shares of the company’s stock worth $2,106,000 after acquiring an additional 60,000 shares during the period. 72.19% of the stock is owned by institutional investors and hedge funds.
NASDAQ:KALA traded down $0.17 during trading hours on Tuesday, reaching $7.73. 478,930 shares of the company traded hands, compared to its average volume of 262,111. The stock has a market capitalization of $242.73 million, a price-to-earnings ratio of -1.32 and a beta of -1.07. Kala Pharmaceuticals has a 1 year low of $7.60 and a 1 year high of $23.09. The company has a current ratio of 9.79, a quick ratio of 9.79 and a debt-to-equity ratio of 0.27.
Kala Pharmaceuticals (NASDAQ:KALA) last announced its quarterly earnings data on Thursday, August 9th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.10). As a group, equities research analysts predict that Kala Pharmaceuticals will post -2.19 EPS for the current year.
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.
Featured Article: How to Use a Moving Average for Trading
Receive News & Ratings for Kala Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kala Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.