Wall Street analysts expect that Kala Pharmaceuticals (NASDAQ:KALA) will announce ($0.44) earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Kala Pharmaceuticals’ earnings. The highest EPS estimate is ($0.41) and the lowest is ($0.46). The company is scheduled to issue its next quarterly earnings report on Monday, June 25th.
On average, analysts expect that Kala Pharmaceuticals will report full-year earnings of ($1.98) per share for the current fiscal year, with EPS estimates ranging from ($2.20) to ($1.74). For the next fiscal year, analysts forecast that the firm will report earnings of ($2.43) per share, with EPS estimates ranging from ($2.96) to ($1.93). Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Kala Pharmaceuticals.
Kala Pharmaceuticals (NASDAQ:KALA) last issued its earnings results on Monday, March 26th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.09).
A number of analysts have weighed in on the stock. BidaskClub upgraded shares of Kala Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, April 4th. Zacks Investment Research raised shares of Kala Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, April 4th. Wells Fargo reissued an “outperform” rating and set a $19.00 target price (down previously from $24.00) on shares of Kala Pharmaceuticals in a research note on Thursday, January 25th. They noted that the move was a valuation call. Finally, Wedbush reaffirmed an “outperform” rating and issued a $46.00 price target on shares of Kala Pharmaceuticals in a research note on Friday, December 22nd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Kala Pharmaceuticals has an average rating of “Buy” and an average price target of $35.80.
Shares of KALA traded down $0.28 during mid-day trading on Tuesday, hitting $17.21. 115,287 shares of the company’s stock were exchanged, compared to its average volume of 350,404. The company has a current ratio of 7.97, a quick ratio of 7.97 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $402.96 and a PE ratio of -2.95. Kala Pharmaceuticals has a 52 week low of $11.81 and a 52 week high of $26.75.
In other news, major shareholder Orbimed Advisors Llc bought 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were acquired at an average price of $12.93 per share, with a total value of $323,250.00. The acquisition was disclosed in a filing 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.
Several institutional investors have recently made changes to their positions in KALA. Bank of New York Mellon Corp purchased a new stake in shares of Kala Pharmaceuticals in the 3rd quarter worth about $540,000. American International Group Inc. bought a new stake in Kala Pharmaceuticals during the 3rd quarter valued at about $122,000. Teachers Retirement System of The State of Kentucky bought a new stake in Kala Pharmaceuticals during the 3rd quarter valued at about $105,000. JPMorgan Chase & Co. bought a new stake in Kala Pharmaceuticals during the 3rd quarter valued at about $4,037,000. Finally, Wells Fargo & Company MN purchased a new stake in shares of Kala Pharmaceuticals during the 3rd quarter valued at about $3,752,000. 72.30% of the stock is owned by institutional investors.
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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 technology. The company's product candidates include KPI-121 1.0%, which has completed Phase 3 clinical trials for the treatment of inflammation and pain following ocular surgery; and KPI-121 0.25% that is in Phase 3 clinical trials for the temporary relief of the signs and symptoms of dry eye disease.
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