Kala Pharmaceuticals Inc (NASDAQ:KALA) major shareholder Orbimed Advisors Llc purchased 240,484 shares of the business’s stock in a transaction on Friday, January 12th. The stock was acquired at an average cost of $13.28 per share, with a total value of $3,193,627.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Orbimed Advisors Llc also recently made the following trade(s):
- On Wednesday, January 10th, Orbimed Advisors Llc purchased 170,338 shares of Kala Pharmaceuticals stock. The stock was acquired at an average cost of $12.83 per share, with a total value of $2,185,436.54.
Shares of Kala Pharmaceuticals Inc (NASDAQ:KALA) traded up $1.75 during midday trading on Friday, reaching $15.60. 386,757 shares of the company’s stock were exchanged, compared to its average volume of 389,052. Kala Pharmaceuticals Inc has a 52 week low of $11.81 and a 52 week high of $26.75. The company has a quick ratio of 11.00, a current ratio of 11.00 and a debt-to-equity ratio of 0.14. The firm has a market cap of $377.94 and a P/E ratio of -8.57.
Kala Pharmaceuticals (NASDAQ:KALA) last issued its quarterly earnings results on Tuesday, November 7th. The company reported ($0.56) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.14). sell-side analysts anticipate that Kala Pharmaceuticals Inc will post -2.22 EPS for the current year.
A number of hedge funds have recently bought and sold shares of the business. Orbimed Advisors LLC purchased a new stake in Kala Pharmaceuticals during the third quarter valued at about $54,251,000. Caxton Corp purchased a new stake in Kala Pharmaceuticals during the third quarter valued at about $12,430,000. Victory Capital Management Inc. purchased a new stake in Kala Pharmaceuticals during the third quarter valued at about $12,414,000. OxFORD Asset Management LLP purchased a new stake in Kala Pharmaceuticals during the third quarter valued at about $4,374,000. Finally, JPMorgan Chase & Co. purchased a new stake in Kala Pharmaceuticals during the third quarter valued at about $4,037,000. 62.96% of the stock is owned by institutional investors.
A number of equities research analysts have weighed in on the stock. Wells Fargo & Co reissued a “buy” rating on shares of Kala Pharmaceuticals in a report on Friday, January 5th. BidaskClub raised shares of Kala Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, December 29th. Wedbush reissued an “outperform” rating and issued a $46.00 price target on shares of Kala Pharmaceuticals in a report on Friday, December 22nd. JPMorgan Chase & Co. set a $35.00 price target on shares of Kala Pharmaceuticals and gave the company a “buy” rating in a report on Sunday, November 19th. Finally, Zacks Investment Research downgraded shares of Kala Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Kala Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $36.80.
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About Kala Pharmaceuticals
Kala Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapeutics through its nanoparticle-based Mucus Penetrating Particles, or MPP, technology. The Company’s initial focus is on the treatment of eye diseases. The Company’s product candidate includes KPI-121 1%, KPI-121 0.25% and MPP rTKI Program.
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