Several other research analysts have also recently commented on the stock. 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 report on Wednesday, July 18th. BidaskClub cut shares of Kala Pharmaceuticals from a hold rating to a sell rating in a report on Thursday, July 12th. Wedbush reduced their target price on shares of Kala Pharmaceuticals from $47.00 to $46.00 and set an outperform rating for the company in a report on Tuesday, May 15th. Finally, ValuEngine upgraded shares of Kala Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Kala Pharmaceuticals has a consensus rating of Hold and a consensus target price of $30.00.
Shares of KALA opened at $12.14 on Thursday. Kala Pharmaceuticals has a 12 month low of $11.39 and a 12 month high of $26.75. The firm has a market cap of $309.86 million and a P/E ratio of -2.08. The company has a quick ratio of 9.79, a current ratio of 9.79 and a debt-to-equity ratio of 0.27.
Kala Pharmaceuticals (NASDAQ:KALA) last announced its earnings results on Thursday, August 9th. The company reported ($0.60) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.10). equities research analysts predict that Kala Pharmaceuticals will post -1.95 EPS for the current year.
A number of hedge funds have recently made changes to their positions in KALA. Millennium Management LLC lifted its stake in 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 acquiring an additional 894,919 shares during the last quarter. BlackRock Inc. lifted its stake in Kala Pharmaceuticals by 76.1% in the fourth quarter. BlackRock Inc. now owns 738,050 shares of the company’s stock valued at $13,646,000 after acquiring an additional 319,043 shares during the last quarter. Brown Advisory Inc. acquired a new stake in Kala Pharmaceuticals in the first quarter valued at $3,957,000. Asymmetry Capital Management L.P. lifted its stake in Kala Pharmaceuticals by 894.1% in the first quarter. Asymmetry Capital Management L.P. now owns 134,250 shares of the company’s stock valued at $2,125,000 after acquiring an additional 120,746 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Kala Pharmaceuticals by 26.7% in the first quarter. Wells Fargo & Company MN now owns 363,289 shares of the company’s stock valued at $5,751,000 after acquiring an additional 76,595 shares during the last quarter. Hedge funds and other institutional investors own 77.33% of the company’s stock.
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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