Kala Pharmaceuticals Inc (NASDAQ:KALA)’s share price reached a new 52-week low on Thursday . The company traded as low as $11.20 and last traded at $11.30, with a volume of 15478 shares traded. The stock had previously closed at $12.44.
A number of research firms have weighed in on KALA. Wedbush set a $51.00 price target on shares of Kala Pharmaceuticals and gave the stock a “buy” rating in a research report on Sunday, August 26th. HC Wainwright upped their price target on shares of Kala Pharmaceuticals from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. Wells Fargo & Co reiterated a “buy” rating on shares of Kala Pharmaceuticals in a research report on Thursday, August 23rd. Zacks Investment Research downgraded shares of Kala Pharmaceuticals from a “buy” rating to a “sell” rating in a report on Wednesday, August 15th. Finally, BidaskClub raised shares of Kala Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Kala Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $31.20.
The company has a current ratio of 9.79, a quick ratio of 9.79 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $332.24 million, a P/E ratio of -1.95 and a beta of -1.39.
Kala Pharmaceuticals (NASDAQ:KALA) last released its earnings results on Thursday, August 9th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.10). analysts anticipate that Kala Pharmaceuticals Inc will post -2.19 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC purchased a new position in shares of Kala Pharmaceuticals in the first quarter worth $119,000. American International Group Inc. raised its stake in Kala Pharmaceuticals by 86.6% during the first quarter. American International Group Inc. now owns 9,119 shares of the company’s stock valued at $144,000 after purchasing an additional 4,232 shares in the last quarter. Rhumbline Advisers purchased a new stake in Kala Pharmaceuticals during the second quarter valued at $148,000. Paloma Partners Management Co purchased a new stake in Kala Pharmaceuticals during the second quarter valued at $152,000. Finally, The Manufacturers Life Insurance Company raised its stake in Kala Pharmaceuticals by 489.8% during the first quarter. The Manufacturers Life Insurance Company now owns 11,778 shares of the company’s stock valued at $186,000 after purchasing an additional 9,781 shares in the last quarter. 72.19% of the stock is currently owned by hedge funds and other institutional investors.
Kala Pharmaceuticals Company Profile (NASDAQ:KALA)
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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