Wells Fargo & Company MN boosted its holdings in Kala Pharmaceuticals Inc (NASDAQ:KALA) by 26.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 363,289 shares of the company’s stock after acquiring an additional 76,595 shares during the quarter. Wells Fargo & Company MN’s holdings in Kala Pharmaceuticals were worth $5,751,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Teachers Advisors LLC increased its stake in Kala Pharmaceuticals by 44.6% in the fourth quarter. Teachers Advisors LLC now owns 21,006 shares of the company’s stock valued at $388,000 after acquiring an additional 6,478 shares during the period. TIAA CREF Investment Management LLC increased its stake in Kala Pharmaceuticals by 48.4% in the fourth quarter. TIAA CREF Investment Management LLC now owns 28,340 shares of the company’s stock valued at $524,000 after acquiring an additional 9,247 shares during the period. Deutsche Bank AG increased its stake in Kala Pharmaceuticals by 126.1% in the fourth quarter. Deutsche Bank AG now owns 19,096 shares of the company’s stock valued at $352,000 after acquiring an additional 10,651 shares during the period. Goldman Sachs Group Inc. bought a new stake in Kala Pharmaceuticals in the fourth quarter valued at about $235,000. Finally, Millennium Management LLC increased its stake in Kala Pharmaceuticals by 67.4% in the fourth quarter. Millennium Management LLC now owns 103,400 shares of the company’s stock valued at $1,912,000 after acquiring an additional 41,637 shares during the period. 76.84% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently weighed in on KALA. Zacks Investment Research raised shares of Kala Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, April 4th. Wedbush reduced their price target on shares of Kala Pharmaceuticals from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 15th. BidaskClub lowered shares of Kala Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 1st. Finally, ValuEngine upgraded shares of Kala Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $36.00.
Kala Pharmaceuticals opened at $13.85 on Friday, Marketbeat Ratings reports. The stock has a market capitalization of $332.08 million and a price-to-earnings ratio of -2.37. Kala Pharmaceuticals Inc has a 12 month low of $11.81 and a 12 month high of $26.75. The company has a current ratio of 20.40, a quick ratio of 20.40 and a debt-to-equity ratio of 0.25.
Kala Pharmaceuticals (NASDAQ:KALA) last released its quarterly earnings results on Thursday, May 10th. The company reported ($0.46) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.46). research analysts predict that Kala Pharmaceuticals Inc will post -1.97 earnings per share for the current fiscal year.
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 (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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