Kala Pharmaceuticals (NASDAQ:KALA)‘s stock had its “outperform” rating reiterated by stock analysts at Wells Fargo & Co in a research report issued on Thursday, January 25th. They currently have a $19.00 price target on the stock, down from their prior price target of $24.00. Wells Fargo & Co’s price target indicates a potential upside of 39.60% from the stock’s previous close. The analysts noted that the move was a valuation call.
A number of other equities analysts also recently issued reports on the stock. BidaskClub upgraded shares of Kala Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, January 13th. Wedbush reiterated an “outperform” rating and issued a $46.00 price target on shares of Kala Pharmaceuticals in a report on Friday, December 22nd. JPMorgan Chase & Co. set a $35.00 price target on shares of Kala Pharmaceuticals and gave the company a “buy” rating in a report on Sunday, November 19th. Finally, Zacks Investment Research cut shares of Kala Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. Kala Pharmaceuticals has an average rating of “Hold” and an average price target of $35.80.
Kala Pharmaceuticals (NASDAQ:KALA) opened at $13.61 on Thursday. The company has a quick ratio of 11.00, a current ratio of 11.00 and a debt-to-equity ratio of 0.14. The stock has a market cap of $329.73 and a PE ratio of -7.48. Kala Pharmaceuticals has a twelve month low of $11.81 and a twelve month high of $26.75.
In other Kala Pharmaceuticals news, major shareholder Orbimed Advisors Llc acquired 22,760 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were purchased at an average cost of $14.93 per share, with a total value of $339,806.80. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders purchased 1,108,150 shares of company stock worth $15,772,394.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky acquired a new stake in Kala Pharmaceuticals in the 3rd quarter valued at about $105,000. American International Group Inc. acquired a new stake in Kala Pharmaceuticals in the 3rd quarter valued at about $122,000. Susquehanna International Group LLP acquired a new stake in Kala Pharmaceuticals in the 3rd quarter valued at about $222,000. Cubist Systematic Strategies LLC acquired a new stake in Kala Pharmaceuticals in the 3rd quarter valued at about $228,000. Finally, California State Teachers Retirement System acquired a new stake in Kala Pharmaceuticals in the 3rd quarter valued at about $301,000. 63.00% of the stock is currently owned by hedge funds and other institutional investors.
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Kala Pharmaceuticals Company Profile
Kala Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapeutics through its nanoparticle-based Mucus Penetrating Particles, or MPP, technology. The Company’s initial focus is on the treatment of eye diseases. The Company’s product candidate includes KPI-121 1%, KPI-121 0.25% and MPP rTKI Program.
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