HC Wainwright set a $15.00 target price on Kala Pharmaceuticals (NASDAQ:KALA) in a report issued on Friday, The Fly reports. The firm currently has a buy rating on the stock.
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Kala Pharmaceuticals from a hold rating to a buy rating and set a $9.25 price objective on the stock in a research report on Thursday, October 11th. Wedbush set a $51.00 price objective on shares of Kala Pharmaceuticals and gave the stock a buy rating in a research report on Wednesday, October 10th. Wells Fargo & Co reiterated a buy rating and set a $15.00 price objective (down from $19.00) on shares of Kala Pharmaceuticals in a research report on Thursday, October 4th. Finally, BidaskClub upgraded shares of Kala Pharmaceuticals from a sell rating to a hold rating in a research report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $25.05.
Kala Pharmaceuticals stock traded down $0.45 during mid-day trading on Friday, hitting $7.20. The company’s stock had a trading volume of 200,214 shares, compared to its average volume of 426,016. The company has a debt-to-equity ratio of 0.27, a quick ratio of 9.79 and a current ratio of 9.79. The firm has a market cap of $252.89 million, a price-to-earnings ratio of -1.23 and a beta of 0.63. Kala Pharmaceuticals has a twelve month low of $7.11 and a twelve month high of $22.10.
Kala Pharmaceuticals (NASDAQ:KALA) last posted its quarterly earnings results on Thursday, November 8th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by ($0.01). As a group, equities analysts predict that Kala Pharmaceuticals will post -2.25 EPS for the current fiscal year.
In other news, Director Gregory Grunberg acquired 606,060 shares of the stock in a transaction on Friday, October 5th. The shares were purchased at an average cost of $8.25 per share, for a total transaction of $4,999,995.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ra Capital Healthcare Fund Lp acquired 2,424,242 shares of the stock in a transaction on Wednesday, October 3rd. The shares were purchased at an average price of $8.25 per share, for a total transaction of $19,999,996.50. The disclosure for this purchase can be found here. Insiders own 35.58% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of KALA. Trexquant Investment LP purchased a new position in Kala Pharmaceuticals during the 3rd quarter worth approximately $140,000. Rhumbline Advisers acquired a new stake in shares of Kala Pharmaceuticals during the 2nd quarter valued at $148,000. Paloma Partners Management Co acquired a new stake in shares of Kala Pharmaceuticals during the 2nd quarter valued at $152,000. The Manufacturers Life Insurance Company boosted its stake in shares of Kala Pharmaceuticals by 489.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 11,778 shares of the company’s stock valued at $186,000 after buying an additional 9,781 shares during the period. Finally, Engineers Gate Manager LP acquired a new stake in shares of Kala Pharmaceuticals during the 3rd quarter valued at $249,000. Hedge funds and other institutional investors own 48.53% 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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