Shares of Kala Pharmaceuticals Inc (NASDAQ:KALA) have earned a consensus recommendation of “Buy” from the nine ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $21.33.
KALA has been the subject of several recent research reports. Zacks Investment Research cut shares of Kala Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, August 14th. Oppenheimer initiated coverage on shares of Kala Pharmaceuticals in a report on Friday, May 29th. They set an “outperform” rating and a $21.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $17.00 target price (up previously from $14.00) on shares of Kala Pharmaceuticals in a report on Wednesday, May 27th. Wedbush reissued a “buy” rating and set a $39.00 target price on shares of Kala Pharmaceuticals in a report on Tuesday, August 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of Kala Pharmaceuticals from $14.00 to $19.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in KALA. Marshall Wace LLP purchased a new position in Kala Pharmaceuticals in the first quarter valued at $325,000. UBS Group AG increased its holdings in Kala Pharmaceuticals by 130.7% in the fourth quarter. UBS Group AG now owns 32,163 shares of the company’s stock valued at $119,000 after buying an additional 18,219 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Kala Pharmaceuticals by 10.3% in the fourth quarter. Geode Capital Management LLC now owns 337,412 shares of the company’s stock valued at $1,245,000 after purchasing an additional 31,476 shares during the period. Nisa Investment Advisors LLC acquired a new stake in shares of Kala Pharmaceuticals in the first quarter valued at about $44,000. Finally, BlackRock Inc. grew its position in shares of Kala Pharmaceuticals by 11.1% in the first quarter. BlackRock Inc. now owns 1,581,889 shares of the company’s stock valued at $13,906,000 after purchasing an additional 158,283 shares during the period. 76.50% of the stock is owned by institutional investors.
Shares of NASDAQ:KALA traded down $0.26 on Tuesday, hitting $7.96. 1,142,300 shares of the company were exchanged, compared to its average volume of 734,410. Kala Pharmaceuticals has a 1-year low of $3.24 and a 1-year high of $14.68. The stock’s 50 day moving average price is $9.28 and its 200 day moving average price is $9.69. The company has a current ratio of 11.63, a quick ratio of 11.29 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $446.24 million, a P/E ratio of -3.51 and a beta of 0.24.
Kala Pharmaceuticals (NASDAQ:KALA) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.42) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.42). Kala Pharmaceuticals had a negative net margin of 1,993.41% and a negative return on equity of 105.36%. On average, equities analysts predict that Kala Pharmaceuticals will post -1.72 EPS for the current fiscal 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. The company's lead product candidate is KPI-121 0.25% which has completed two Phase III clinical trials for the treatment of temporary relief of the signs and symptoms of dry eye disease; INVELTYS which has completed two Phase III clinical trials for the treatment of inflammation and pain following ocular surgery; 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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