Kala Pharmaceuticals Inc (NASDAQ:KALA) shares reached a new 52-week low during mid-day trading on Friday . The company traded as low as $5.67 and last traded at $5.71, with a volume of 4479 shares trading hands. The stock had previously closed at $5.97.
KALA has been the topic of a number of recent analyst reports. Wells Fargo & Co set a $19.00 target price on Kala Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, August 15th. HC Wainwright set a $35.00 target price on Kala Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, August 10th. Wedbush set a $47.00 target price on Kala Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, August 9th. Finally, Zacks Investment Research upgraded Kala Pharmaceuticals from a “hold” rating to a “buy” rating and set a $9.25 target price on the stock in a research report on Thursday, October 11th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $22.45.
The company has a debt-to-equity ratio of 0.30, a current ratio of 6.34 and a quick ratio of 6.27. The stock has a market cap of $203.45 million, a PE ratio of -0.97 and a beta of 0.56.
Kala Pharmaceuticals (NASDAQ:KALA) last announced its quarterly earnings results on Thursday, November 8th. The company reported ($0.63) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.01). As a group, equities analysts expect that Kala Pharmaceuticals Inc will post -2.2 earnings per share for the current fiscal year.
In other news, Director Gregory Grunberg purchased 606,060 shares of the business’s stock in a transaction dated Friday, October 5th. The shares were purchased at an average cost of $8.25 per share, with a total value of $4,999,995.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ra Capital Healthcare Fund Lp purchased 2,424,242 shares of the business’s stock in a transaction dated Wednesday, October 3rd. The shares were purchased at an average cost of $8.25 per share, for a total transaction of $19,999,996.50. The disclosure for this purchase can be found here. Company insiders own 35.58% of the company’s stock.
Several hedge funds have recently made changes to their positions in KALA. Greylock Xii GP LLC acquired a new position in shares of Kala Pharmaceuticals in the third quarter worth approximately $1,970,000. BlackRock Inc. lifted its stake in shares of Kala Pharmaceuticals by 16.8% in the third quarter. BlackRock Inc. now owns 1,105,361 shares of the company’s stock worth $10,910,000 after acquiring an additional 158,883 shares during the period. Dimensional Fund Advisors LP acquired a new position in shares of Kala Pharmaceuticals in the third quarter worth approximately $1,551,000. Bridgeway Capital Management Inc. acquired a new position in shares of Kala Pharmaceuticals in the third quarter worth approximately $839,000. Finally, Wedbush Securities Inc. lifted its stake in shares of Kala Pharmaceuticals by 105.3% in the third quarter. Wedbush Securities Inc. now owns 115,819 shares of the company’s stock worth $1,143,000 after acquiring an additional 59,399 shares during the period. 47.58% of the stock is currently owned by hedge funds and other institutional investors.
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Kala Pharmaceuticals Company Profile (NASDAQ:KALA)
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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