Kala Pharmaceuticals Inc (NASDAQ:KALA) has been given a consensus recommendation of “Buy” by the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $36.00.
KALA has been the topic of several analyst reports. BidaskClub raised shares of Kala Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, April 4th. ValuEngine raised shares of Kala Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Zacks Investment Research raised shares of Kala Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, April 4th. Finally, Wedbush reissued an “outperform” rating and issued a $47.00 price target on shares of Kala Pharmaceuticals in a report on Wednesday, June 20th.
Kala Pharmaceuticals traded down $0.19, reaching $13.62, on Friday, MarketBeat Ratings reports. 2,401 shares of the company were exchanged, compared to its average volume of 174,068. Kala Pharmaceuticals has a 12 month low of $11.81 and a 12 month high of $26.75. The firm has a market capitalization of $335.28 million and a P/E ratio of -2.33. The company has a current ratio of 20.40, a quick ratio of 20.40 and a debt-to-equity ratio of 0.25.
A number of institutional investors have recently made changes to their positions in KALA. Millennium Management LLC increased its holdings in Kala Pharmaceuticals by 865.5% in the 1st quarter. Millennium Management LLC now owns 998,319 shares of the company’s stock valued at $15,803,000 after buying an additional 894,919 shares during the period. BlackRock Inc. increased its holdings in Kala Pharmaceuticals by 76.1% in the 4th quarter. BlackRock Inc. now owns 738,050 shares of the company’s stock valued at $13,646,000 after buying an additional 319,043 shares during the period. Wells Fargo & Company MN increased its holdings in Kala Pharmaceuticals by 74.5% in the 4th quarter. Wells Fargo & Company MN now owns 286,694 shares of the company’s stock valued at $5,301,000 after buying an additional 122,425 shares during the period. Asymmetry Capital Management L.P. increased its holdings in Kala Pharmaceuticals by 894.1% in the 1st quarter. Asymmetry Capital Management L.P. now owns 134,250 shares of the company’s stock valued at $2,125,000 after buying an additional 120,746 shares during the period. Finally, Emory University bought a new stake in Kala Pharmaceuticals in the 4th quarter valued at $1,827,000. 76.84% of the stock is currently owned by hedge funds and other 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. 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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