Other analysts have also recently issued reports about the stock. HC Wainwright set a $37.00 target price on shares of Kala Pharmaceuticals and gave the company a buy rating in a research note on Monday, September 10th. Wells Fargo & Co reiterated a buy rating on shares of Kala Pharmaceuticals in a research note on Thursday, August 23rd. Zacks Investment Research upgraded shares of Kala Pharmaceuticals from a hold rating to a buy rating and set a $14.00 target price for the company in a research note on Wednesday, July 18th. Finally, BidaskClub upgraded shares of Kala Pharmaceuticals from a sell rating to a hold rating in a research note on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $28.45.
NASDAQ KALA traded up $0.50 during trading on Wednesday, reaching $8.56. The company’s stock had a trading volume of 1,083,306 shares, compared to its average volume of 277,514. The company has a quick ratio of 9.79, a current ratio of 9.79 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $242.73 million, a PE ratio of -1.47 and a beta of -1.07. Kala Pharmaceuticals has a 1-year low of $7.60 and a 1-year high of $22.51.
Kala Pharmaceuticals (NASDAQ:KALA) last posted its earnings results 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 analysts anticipate that Kala Pharmaceuticals will post -2.19 EPS for the current year.
In other news, Director Gregory Grunberg purchased 606,060 shares of the company’s stock in a transaction dated Friday, October 5th. The shares were bought at an average price of $8.25 per share, with a total value of $4,999,995.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ra Capital Healthcare Fund Lp purchased 2,424,242 shares of the company’s stock in a transaction dated Wednesday, October 3rd. The stock was purchased at an average cost of $8.25 per share, for a total transaction of $19,999,996.50. The disclosure for this purchase can be found here. Company insiders own 35.58% of the company’s stock.
Several large investors have recently added to or reduced their stakes in KALA. Millennium Management LLC raised its position in shares of Kala Pharmaceuticals by 865.5% in the first quarter. Millennium Management LLC now owns 998,319 shares of the company’s stock valued at $15,803,000 after purchasing an additional 894,919 shares during the period. BlackRock Inc. increased its position in Kala Pharmaceuticals by 36.5% during the first quarter. BlackRock Inc. now owns 1,007,691 shares of the company’s stock worth $15,951,000 after acquiring an additional 269,641 shares during the period. Brown Advisory Inc. bought a new position in Kala Pharmaceuticals during the first quarter worth $3,957,000. Wells Fargo & Company MN increased its position in Kala Pharmaceuticals by 26.7% during the first quarter. Wells Fargo & Company MN now owns 363,289 shares of the company’s stock worth $5,751,000 after acquiring an additional 76,595 shares during the period. Finally, Northern Trust Corp increased its position in Kala Pharmaceuticals by 82.2% during 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 currently owned by institutional investors.
Kala Pharmaceuticals Company Profile
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.
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