BlackRock Inc. raised its stake in shares of Kala Pharmaceuticals (NASDAQ:KALA) by 76.1% during the 4th quarter, HoldingsChannel reports. The fund owned 738,050 shares of the company’s stock after purchasing an additional 319,043 shares during the period. BlackRock Inc.’s holdings in Kala Pharmaceuticals were worth $13,646,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. American International Group Inc. bought a new stake in Kala Pharmaceuticals during the 3rd quarter valued at $122,000. Cubist Systematic Strategies LLC bought a new stake in Kala Pharmaceuticals during the 3rd quarter valued at $228,000. California State Teachers Retirement System bought a new stake in Kala Pharmaceuticals during the 3rd quarter valued at $301,000. Schwab Charles Investment Management Inc. bought a new stake in Kala Pharmaceuticals during the 3rd quarter valued at $313,000. Finally, Bank of New York Mellon Corp bought a new stake in Kala Pharmaceuticals during the 3rd quarter valued at $540,000. 72.30% of the stock is currently owned by institutional investors and hedge funds.
Kala Pharmaceuticals stock opened at $16.00 on Friday. The company has a quick ratio of 7.97, a current ratio of 7.97 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $388.48 and a PE ratio of -2.74. Kala Pharmaceuticals has a 1-year low of $11.81 and a 1-year high of $26.75.
Kala Pharmaceuticals (NASDAQ:KALA) last posted its quarterly earnings data on Monday, March 26th. The company reported ($0.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($0.09). equities research analysts expect that Kala Pharmaceuticals will post -1.98 EPS for the current fiscal year.
KALA has been the topic of several recent research reports. BidaskClub raised Kala Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, December 29th. Wells Fargo reaffirmed a “buy” rating on shares of Kala Pharmaceuticals in a research report on Friday, January 5th. Finally, Zacks Investment Research raised Kala Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, April 4th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $35.80.
In other Kala Pharmaceuticals news, major shareholder Orbimed Advisors Llc acquired 362,240 shares of the stock in a transaction dated Thursday, February 1st. The stock was purchased at an average price of $15.00 per share, with a total value of $5,433,600.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders bought a total of 622,397 shares of company stock valued at $9,273,112 in the last three months.
ILLEGAL ACTIVITY WARNING: “BlackRock Inc. Buys 319,043 Shares of Kala Pharmaceuticals (KALA)” was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece on another publication, it was illegally copied and republished in violation of U.S. & international trademark and copyright laws. The original version of this piece can be viewed at https://www.dispatchtribunal.com/2018/04/22/blackrock-inc-buys-319043-shares-of-kala-pharmaceuticals-kala.html.
Kala Pharmaceuticals Profile
Kala Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapies using its proprietary nanoparticle-based Mucus Penetrating Particles technology. The company's product candidates include KPI-121 1.0%, which has completed Phase 3 clinical trials for the treatment of inflammation and pain following ocular surgery; and KPI-121 0.25% that is in Phase 3 clinical trials for the temporary relief of the signs and symptoms of dry eye disease.
Want to see what other hedge funds are holding KALA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kala Pharmaceuticals (NASDAQ:KALA).
Receive News & Ratings for Kala Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kala Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.