Kala Pharmaceuticals (NASDAQ:KALA) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Saturday.
KALA has been the subject of several other research reports. Zacks Investment Research downgraded Kala Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Wedbush reissued an “outperform” rating and issued a $46.00 target price on shares of Kala Pharmaceuticals in a research note on Friday, December 22nd. Wells Fargo & Co reissued a “buy” rating on shares of Kala Pharmaceuticals in a research note on Friday, January 5th. Finally, JPMorgan Chase & Co. set a $35.00 target price on Kala Pharmaceuticals and gave the company a “buy” rating in a research note on Sunday, November 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Kala Pharmaceuticals has an average rating of “Buy” and a consensus price target of $36.80.
Kala Pharmaceuticals (KALA) opened at $15.60 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 11.00 and a quick ratio of 11.00. Kala Pharmaceuticals has a 52-week low of $11.81 and a 52-week high of $26.75. The stock has a market capitalization of $377.94 and a price-to-earnings ratio of -8.57.
Kala Pharmaceuticals (NASDAQ:KALA) last issued its quarterly earnings data on Tuesday, November 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.14). equities research analysts expect that Kala Pharmaceuticals will post -2.22 earnings per share for the current year.
In other news, major shareholder Orbimed Advisors Llc bought 170,338 shares of the stock in a transaction dated Wednesday, January 10th. The stock was bought at an average cost of $12.83 per share, with a total value of $2,185,436.54. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Orbimed Advisors LLC acquired a new stake in shares of Kala Pharmaceuticals during the third quarter worth $54,251,000. Caxton Corp acquired a new stake in shares of Kala Pharmaceuticals during the third quarter worth $12,430,000. Victory Capital Management Inc. acquired a new stake in shares of Kala Pharmaceuticals during the third quarter worth $12,414,000. OxFORD Asset Management LLP acquired a new stake in shares of Kala Pharmaceuticals during the third quarter worth $4,374,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Kala Pharmaceuticals during the third quarter worth $4,037,000. 62.96% of the stock is owned by institutional investors.
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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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