Jefferies Financial Group lowered shares of Kala Pharmaceuticals (NASDAQ:KALA) from a buy rating to a hold rating in a research report sent to investors on Monday, Benzinga reports. They currently have $10.00 price target on the stock, down from their prior price target of $21.00. Jefferies Financial Group also issued estimates for Kala Pharmaceuticals’ FY2021 earnings at ($1.52) EPS, FY2022 earnings at ($0.73) EPS, FY2023 earnings at $0.05 EPS and FY2024 earnings at $0.58 EPS.

Several other research firms have also recently weighed in on KALA. HC Wainwright reissued a buy rating and set a $17.00 price target (up from $14.00) on shares of Kala Pharmaceuticals in a report on Wednesday, May 27th. Wedbush reaffirmed a buy rating and issued a $39.00 price objective on shares of Kala Pharmaceuticals in a report on Tuesday, August 18th. Northland Securities reaffirmed a buy rating and issued a $17.00 price objective on shares of Kala Pharmaceuticals in a report on Friday, August 7th. JPMorgan Chase & Co. lifted their price objective on Kala Pharmaceuticals from $14.00 to $19.00 and gave the company an overweight rating in a report on Wednesday, May 27th. Finally, Oppenheimer began coverage on Kala Pharmaceuticals in a report on Friday, May 29th. They issued an outperform rating and a $21.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. Kala Pharmaceuticals has an average rating of Buy and an average price target of $18.50.

NASDAQ:KALA opened at $8.74 on Monday. The stock has a market cap of $489.96 million, a P/E ratio of -3.85 and a beta of 0.24. The stock has a 50 day simple moving average of $8.77 and a 200 day simple moving average of $9.82. The company has a current ratio of 11.63, a quick ratio of 11.29 and a debt-to-equity ratio of 0.56. Kala Pharmaceuticals has a 1-year low of $3.24 and a 1-year high of $14.68.

Kala Pharmaceuticals (NASDAQ:KALA) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.42) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.42). The business had revenue of $0.83 million during the quarter, compared to analysts’ expectations of $0.76 million. Kala Pharmaceuticals had a negative return on equity of 105.36% and a negative net margin of 1,993.41%. As a group, sell-side analysts forecast that Kala Pharmaceuticals will post -1.72 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. Exane Derivatives acquired a new position in shares of Kala Pharmaceuticals during the 2nd quarter worth $25,000. Oregon Public Employees Retirement Fund acquired a new position in shares of Kala Pharmaceuticals during the 2nd quarter worth $26,000. Great West Life Assurance Co. Can acquired a new position in shares of Kala Pharmaceuticals during the 2nd quarter worth $29,000. Ameritas Investment Partners Inc. raised its holdings in shares of Kala Pharmaceuticals by 190.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,497 shares of the company’s stock worth $37,000 after buying an additional 2,293 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Kala Pharmaceuticals by 82.2% during the 1st quarter. Victory Capital Management Inc. now owns 7,359 shares of the company’s stock worth $65,000 after buying an additional 3,320 shares in the last quarter. 76.50% of the stock is 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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