Equities research analysts forecast that Kala Pharmaceuticals Inc (NASDAQ:KALA) will post earnings of ($0.52) per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Kala Pharmaceuticals’ earnings, with estimates ranging from ($0.60) to ($0.45). Kala Pharmaceuticals reported earnings per share of ($0.46) in the same quarter last year, which indicates a negative year-over-year growth rate of 13%. The company is scheduled to issue its next earnings report on Monday, March 25th.
According to Zacks, analysts expect that Kala Pharmaceuticals will report full year earnings of ($2.20) per share for the current year, with EPS estimates ranging from ($2.30) to ($2.11). For the next financial year, analysts expect that the firm will report earnings of ($2.35) per share, with EPS estimates ranging from ($2.84) to ($2.03). Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Kala Pharmaceuticals.
Kala Pharmaceuticals (NASDAQ:KALA) last issued its earnings results on Thursday, November 8th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.01).
A number of equities research analysts recently weighed in on KALA shares. Wedbush set a $51.00 price target on Kala Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, October 10th. BidaskClub cut Kala Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, October 27th. JPMorgan Chase & Co. dropped their price target on Kala Pharmaceuticals from $35.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, November 14th. Wells Fargo & Co reaffirmed a “buy” rating and set a $15.00 price target (down from $19.00) on shares of Kala Pharmaceuticals in a report on Thursday, October 4th. Finally, HC Wainwright set a $32.00 price target on Kala Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, October 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $21.70.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in KALA. Bank of New York Mellon Corp boosted its position in shares of Kala Pharmaceuticals by 23.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 41,327 shares of the company’s stock worth $568,000 after purchasing an additional 7,784 shares during the last quarter. Alps Advisors Inc. boosted its position in shares of Kala Pharmaceuticals by 22.1% in the 3rd quarter. Alps Advisors Inc. now owns 43,518 shares of the company’s stock worth $430,000 after purchasing an additional 7,874 shares during the last quarter. Rhumbline Advisers bought a new position in shares of Kala Pharmaceuticals in the 2nd quarter worth $148,000. Paloma Partners Management Co bought a new position in shares of Kala Pharmaceuticals in the 2nd quarter worth $152,000. Finally, Trexquant Investment LP bought a new position in shares of Kala Pharmaceuticals in the 3rd quarter worth $140,000. 47.58% of the stock is owned by institutional investors.
Shares of KALA opened at $6.10 on Friday. Kala Pharmaceuticals has a 1 year low of $4.03 and a 1 year high of $18.30. The company has a quick ratio of 6.27, a current ratio of 6.34 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $205.48 million, a PE ratio of -1.04 and a beta of 1.00.
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. 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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