Kala Pharmaceuticals (KALA) Hits New 12-Month Low at $5.67

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.

ILLEGAL ACTIVITY NOTICE: “Kala Pharmaceuticals (KALA) Hits New 12-Month Low at $5.67” was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of US and international copyright and trademark law. The original version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/12/07/kala-pharmaceuticals-kala-hits-new-12-month-low-at-5-67.html.

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.

Featured Article: Growth Stocks

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.


Leave a Reply