Brokerages Set Kala Pharmaceuticals Inc (NASDAQ:KALA) Target Price at $21.25

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Shares of Kala Pharmaceuticals Inc (NASDAQ:KALA) have earned an average recommendation of “Buy” from the seven research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $21.25.

Several research firms have recently weighed in on KALA. Zacks Investment Research lowered shares of Kala Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Oppenheimer set a $9.00 price target on shares of Kala Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, August 7th. Wedbush restated an “outperform” rating and set a $51.00 price target on shares of Kala Pharmaceuticals in a research report on Wednesday, August 7th. Finally, HC Wainwright restated a “buy” rating and set a $10.00 price target (down previously from $12.00) on shares of Kala Pharmaceuticals in a research report on Monday, November 11th.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KALA. Boston Partners grew its stake in Kala Pharmaceuticals by 542.6% in the 2nd quarter. Boston Partners now owns 118,431 shares of the company’s stock valued at $756,000 after acquiring an additional 100,000 shares during the period. Alambic Investment Management L.P. lifted its holdings in Kala Pharmaceuticals by 108.0% during the second quarter. Alambic Investment Management L.P. now owns 86,487 shares of the company’s stock valued at $552,000 after purchasing an additional 44,899 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Kala Pharmaceuticals by 25.1% in the second quarter. Vanguard Group Inc. now owns 1,237,683 shares of the company’s stock valued at $7,896,000 after purchasing an additional 248,287 shares during the period. Northern Trust Corp grew its position in shares of Kala Pharmaceuticals by 4.9% in the second quarter. Northern Trust Corp now owns 198,260 shares of the company’s stock valued at $1,265,000 after purchasing an additional 9,183 shares during the period. Finally, Wedbush Securities Inc. increased its stake in shares of Kala Pharmaceuticals by 163.9% during the third quarter. Wedbush Securities Inc. now owns 89,225 shares of the company’s stock worth $340,000 after purchasing an additional 55,410 shares in the last quarter. 64.21% of the stock is owned by institutional investors.

Shares of KALA opened at $4.07 on Friday. The company has a market capitalization of $144.05 million, a price-to-earnings ratio of -1.64 and a beta of 2.21. Kala Pharmaceuticals has a 52 week low of $3.24 and a 52 week high of $9.25. The stock’s 50-day moving average price is $3.82 and its 200-day moving average price is $4.73. The company has a quick ratio of 5.94, a current ratio of 6.25 and a debt-to-equity ratio of 1.65.

Kala Pharmaceuticals (NASDAQ:KALA) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.67) by ($0.01). The business had revenue of $1.45 million during the quarter, compared to the consensus estimate of $3.56 million. As a group, equities analysts anticipate that Kala Pharmaceuticals will post -2.72 EPS for the current fiscal year.

Kala Pharmaceuticals Company Profile

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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