Kala Pharmaceuticals Inc (NASDAQ:KALA) has earned a consensus recommendation of “Buy” from the seven analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $35.80.
KALA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. set a $35.00 price objective on Kala Pharmaceuticals and gave the stock a “buy” rating in a research report on Sunday, November 19th. Wedbush reiterated a “buy” rating and issued a $46.00 price objective on shares of Kala Pharmaceuticals in a research report on Thursday, November 30th. BidaskClub upgraded Kala Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, December 29th. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of Kala Pharmaceuticals in a research report on Friday, January 5th.
In other news, major shareholder Orbimed Advisors Llc purchased 170,338 shares of the stock in a transaction on Wednesday, January 10th. The shares were acquired at an average price of $12.83 per share, for a total transaction of $2,185,436.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 1,108,150 shares of company stock worth $15,772,394 in the last 90 days.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KALA. Victory Capital Management Inc. purchased a new stake in Kala Pharmaceuticals during the third quarter valued at about $12,414,000. Bank of New York Mellon Corp bought a new position in shares of Kala Pharmaceuticals during the third quarter valued at about $540,000. Commonwealth Equity Services Inc bought a new position in shares of Kala Pharmaceuticals during the third quarter valued at about $360,000. EAM Investors LLC bought a new position in shares of Kala Pharmaceuticals during the third quarter valued at about $1,353,000. Finally, American International Group Inc. bought a new position in shares of Kala Pharmaceuticals during the third quarter valued at about $122,000. Institutional investors and hedge funds own 70.82% of the company’s stock.
Shares of Kala Pharmaceuticals (NASDAQ:KALA) traded down $0.36 during mid-day trading on Monday, hitting $14.48. The company had a trading volume of 138,400 shares, compared to its average volume of 454,211. The company has a quick ratio of 11.00, a current ratio of 11.00 and a debt-to-equity ratio of 0.14. Kala Pharmaceuticals has a one year low of $11.81 and a one year high of $26.75. The stock has a market capitalization of $355.29 and a P/E ratio of -8.05.
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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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