Shares of Kala Pharmaceuticals Inc (NASDAQ:KALA) traded up 0% during trading on Friday . The stock traded as high as $18.30 and last traded at $18.10. 865,004 shares traded hands during trading, an increase of 112% from the average session volume of 407,097 shares. The stock had previously closed at $18.10.
Several analysts recently commented on the company. Wedbush reaffirmed a “buy” rating and set a $46.00 price objective on shares of Kala Pharmaceuticals in a research note on Thursday, November 30th. BidaskClub raised Kala Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, December 29th. JPMorgan Chase & Co. set a $35.00 price objective on Kala Pharmaceuticals and gave the stock a “buy” rating in a research note on Sunday, November 19th. Finally, Wells Fargo reaffirmed a “buy” rating on shares of Kala Pharmaceuticals in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $35.80.
The company has a current ratio of 11.00, a quick ratio of 11.00 and a debt-to-equity ratio of 0.14.
In other Kala Pharmaceuticals news, major shareholder Orbimed Advisors Llc acquired 22,760 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The shares were acquired at an average price of $14.93 per share, with a total value of $339,806.80. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have purchased a total of 1,108,150 shares of company stock worth $15,772,394 in the last ninety days.
A number of institutional investors have recently modified their holdings of the stock. Orbimed Advisors LLC acquired a new stake in Kala Pharmaceuticals during the 3rd quarter worth $54,251,000. BlackRock Inc. raised its stake in shares of Kala Pharmaceuticals by 76.1% in the 4th quarter. BlackRock Inc. now owns 738,050 shares of the company’s stock valued at $13,646,000 after purchasing an additional 319,043 shares during the period. Victory Capital Management Inc. raised its stake in shares of Kala Pharmaceuticals by 4.6% in the 4th quarter. Victory Capital Management Inc. now owns 568,635 shares of the company’s stock valued at $10,514,000 after purchasing an additional 25,110 shares during the period. Caxton Corp acquired a new stake in shares of Kala Pharmaceuticals in the 3rd quarter valued at about $12,430,000. Finally, Wells Fargo & Company MN raised its stake in shares of Kala Pharmaceuticals by 74.5% in the 4th quarter. Wells Fargo & Company MN now owns 286,694 shares of the company’s stock valued at $5,301,000 after purchasing an additional 122,425 shares during the period. 72.45% of the stock is currently owned by institutional investors and hedge funds.
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Kala Pharmaceuticals Company Profile
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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