Kala Pharmaceuticals (NASDAQ:KALA) announced its earnings results on Thursday. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.01), MarketWatch Earnings reports.
Shares of KALA traded down $0.45 during mid-day trading on Friday, reaching $7.20. The company had a trading volume of 200,214 shares, compared to its average volume of 284,547. Kala Pharmaceuticals has a twelve month low of $7.11 and a twelve month high of $22.10. The company has a current ratio of 9.79, a quick ratio of 9.79 and a debt-to-equity ratio of 0.27. The stock has a market cap of $249.24 million, a PE ratio of -1.23 and a beta of 0.63.
A number of brokerages have commented on KALA. HC Wainwright set a $37.00 price objective on Kala Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, September 10th. Wells Fargo & Co reiterated a “buy” rating on shares of Kala Pharmaceuticals in a research report on Thursday, August 23rd. BidaskClub downgraded Kala Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, July 12th. Zacks Investment Research upgraded Kala Pharmaceuticals from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Wednesday, July 18th. Finally, Wedbush set a $47.00 price objective on Kala Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, August 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $25.05.
In related news, Director Gregory Grunberg bought 606,060 shares of the company’s stock in a transaction dated Friday, October 5th. The stock was acquired at an average cost of $8.25 per share, with a total value of $4,999,995.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ra Capital Healthcare Fund Lp bought 2,424,242 shares of the company’s stock in a transaction dated Wednesday, October 3rd. The stock was bought at an average cost of $8.25 per share, with a total value of $19,999,996.50. The disclosure for this purchase can be found here. Corporate insiders own 35.58% of the company’s stock.
A hedge fund recently raised its stake in Kala Pharmaceuticals stock. Bank of New York Mellon Corp boosted its holdings in shares of Kala Pharmaceuticals Inc (NASDAQ:KALA) by 23.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,327 shares of the company’s stock after purchasing an additional 7,784 shares during the period. Bank of New York Mellon Corp owned 0.17% of Kala Pharmaceuticals worth $568,000 as of its most recent SEC filing. 48.53% of the stock is owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION NOTICE: “Kala Pharmaceuticals (KALA) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS” was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2018/11/09/kala-pharmaceuticals-kala-issues-quarterly-earnings-results-misses-expectations-by-0-01-eps.html.
About Kala Pharmaceuticals
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.
Recommended Story: Understanding the different types of bonds
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.