Kala Pharmaceuticals (NASDAQ:KALA) has earned a consensus recommendation of “Buy” from the eight brokerages that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $35.80.
Several analysts recently weighed in on KALA shares. BidaskClub upgraded shares of Kala Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, January 13th. Wells Fargo reiterated an “outperform” rating and issued a $19.00 target price (down previously from $24.00) on shares of Kala Pharmaceuticals in a report on Thursday, January 25th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Kala Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, April 4th. Finally, ValuEngine raised shares of Kala Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd.
A number of hedge funds have recently modified their holdings of the business. New York State Common Retirement Fund boosted its position in Kala Pharmaceuticals by 94.7% in the 1st quarter. New York State Common Retirement Fund now owns 14,600 shares of the company’s stock valued at $231,000 after buying an additional 7,100 shares during the period. BlackRock Inc. boosted its position in Kala Pharmaceuticals by 36.5% in the 1st quarter. BlackRock Inc. now owns 1,007,691 shares of the company’s stock valued at $15,951,000 after buying an additional 269,641 shares during the period. Northern Trust Corp boosted its position in Kala Pharmaceuticals by 82.2% in the 1st quarter. Northern Trust Corp now owns 133,004 shares of the company’s stock valued at $2,106,000 after buying an additional 60,000 shares during the period. Asymmetry Capital Management L.P. boosted its position in Kala Pharmaceuticals by 894.1% in the 1st quarter. Asymmetry Capital Management L.P. now owns 134,250 shares of the company’s stock valued at $2,125,000 after buying an additional 120,746 shares during the period. Finally, Tiverton Asset Management LLC purchased a new position in Kala Pharmaceuticals in the 1st quarter valued at approximately $186,000. 72.31% of the stock is owned by institutional investors.
Kala Pharmaceuticals traded down $0.24, hitting $16.72, during trading on Friday, Marketbeat.com reports. The company had a trading volume of 178,700 shares, compared to its average volume of 288,408. Kala Pharmaceuticals has a 1-year low of $11.81 and a 1-year high of $26.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 7.97 and a current ratio of 7.97. The company has a market capitalization of $402.47 million and a PE ratio of -2.86.
Kala Pharmaceuticals (NASDAQ:KALA) last posted its earnings results on Thursday, May 10th. The company reported ($0.46) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.46). equities research analysts forecast that Kala Pharmaceuticals will post -1.98 earnings per share for the current 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. 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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