Shares of Kala Pharmaceuticals Inc (NASDAQ:KALA) have been assigned a consensus rating of “Buy” from the nine research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $21.50.
A number of analysts have commented on the stock. Zacks Investment Research lowered shares of Kala Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 5th. BidaskClub upgraded shares of Kala Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Jefferies Financial Group assumed coverage on shares of Kala Pharmaceuticals in a research note on Thursday, March 14th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Oppenheimer assumed coverage on shares of Kala Pharmaceuticals in a research note on Wednesday, April 24th. They issued an “outperform” rating and a $11.00 target price for the company.
KALA stock traded up $0.10 during midday trading on Friday, reaching $5.11. 318,588 shares of the company’s stock traded hands, compared to its average volume of 206,864. The firm has a market capitalization of $169.74 million, a PE ratio of -2.06 and a beta of 1.91. The company has a current ratio of 10.30, a quick ratio of 9.93 and a debt-to-equity ratio of 0.86. Kala Pharmaceuticals has a 52 week low of $4.03 and a 52 week high of $14.95.
Kala Pharmaceuticals (NASDAQ:KALA) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.75) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.75). The business had revenue of $1.39 million for the quarter, compared to the consensus estimate of $0.96 million. On average, equities analysts predict that Kala Pharmaceuticals will post -2.86 earnings per share for the current fiscal year.
In other news, Director Howard B. Rosen bought 5,000 shares of Kala Pharmaceuticals stock in a transaction dated Thursday, May 30th. The stock was purchased at an average price of $5.42 per share, for a total transaction of $27,100.00. Following the purchase, the director now directly owns 8,240 shares in the company, valued at approximately $44,660.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 30.77% of the company’s stock.
Large investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA boosted its holdings in shares of Kala Pharmaceuticals by 877.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,410 shares of the company’s stock worth $28,000 after buying an additional 3,061 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. purchased a new position in shares of Kala Pharmaceuticals in the 1st quarter worth about $41,000. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Kala Pharmaceuticals in the 1st quarter worth about $46,000. American International Group Inc. boosted its holdings in shares of Kala Pharmaceuticals by 34.3% in the 4th quarter. American International Group Inc. now owns 10,369 shares of the company’s stock worth $51,000 after buying an additional 2,646 shares during the last quarter. Finally, Rhumbline Advisers purchased a new position in shares of Kala Pharmaceuticals in the 4th quarter worth about $75,000. 69.92% of the stock is currently owned by institutional investors.
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. The company's lead product candidate is KPI-121 0.25% which has completed two Phase III clinical trials for the treatment of temporary relief of the signs and symptoms of dry eye disease; INVELTYS which has completed two Phase III clinical trials for the treatment of inflammation and pain following ocular surgery; 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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