Kala Pharmaceuticals (KALA) Given “Buy” Rating at Wedbush
Kala Pharmaceuticals (NASDAQ:KALA)‘s stock had its “buy” rating restated by Wedbush in a research report issued on Thursday. They presently have a $46.00 target price on the stock. Wedbush’s price target would indicate a potential upside of 152.75% from the company’s current price.
A number of other research firms also recently commented on KALA. J P Morgan Chase & Co set a $35.00 target price on Kala Pharmaceuticals and gave the company a “buy” rating in a report on Sunday, November 19th. Zacks Investment Research downgraded Kala Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Oppenheimer initiated coverage on Kala Pharmaceuticals in a report on Tuesday, August 15th. They issued an “outperform” rating and a $46.00 target price for the company. Wells Fargo & Company initiated coverage on Kala Pharmaceuticals in a report on Monday, August 14th. They issued an “outperform” rating and a $24.00 target price for the company. Finally, Bank of America initiated coverage on Kala Pharmaceuticals in a report on Monday, August 14th. They issued a “buy” rating and a $33.00 target price for the company. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Kala Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $36.80.
Shares of Kala Pharmaceuticals (NASDAQ:KALA) traded up $0.18 during midday trading on Thursday, hitting $18.20. The company had a trading volume of 197,400 shares, compared to its average volume of 190,221. The company has a debt-to-equity ratio of 0.14, a current ratio of 11.00 and a quick ratio of 11.00. Kala Pharmaceuticals has a 52-week low of $13.51 and a 52-week high of $26.75.
Kala Pharmaceuticals (NASDAQ:KALA) last issued its quarterly earnings results on Tuesday, November 7th. The company reported ($0.56) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.14). sell-side analysts predict that Kala Pharmaceuticals will post -2.08 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the business. Orbimed Advisors LLC acquired a new stake in Kala Pharmaceuticals in the third quarter valued at $54,251,000. Caxton Corp acquired a new position in shares of Kala Pharmaceuticals during the 3rd quarter worth $12,430,000. Victory Capital Management Inc. acquired a new position in shares of Kala Pharmaceuticals during the 3rd quarter worth $12,414,000. OxFORD Asset Management LLP acquired a new position in shares of Kala Pharmaceuticals during the 3rd quarter worth $4,374,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Kala Pharmaceuticals during the 3rd quarter worth $4,037,000. 62.96% of the stock is owned by institutional investors.
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About Kala Pharmaceuticals
Kala Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapeutics through its nanoparticle-based Mucus Penetrating Particles, or MPP, technology. The Company’s initial focus is on the treatment of eye diseases. The Company’s product candidate includes KPI-121 1%, KPI-121 0.25% and MPP rTKI Program.
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