Kala Pharmaceuticals (NASDAQ:KALA) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report released on Saturday.
A number of other equities research analysts have also recently commented on the company. Zacks Investment Research cut Kala Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Kala Pharmaceuticals in a research note on Friday, January 5th. Wedbush reaffirmed an “outperform” rating and set a $46.00 price objective on shares of Kala Pharmaceuticals in a research note on Thursday, October 19th. Finally, JPMorgan Chase & Co. set a $35.00 price objective on Kala Pharmaceuticals and gave the stock a “buy” rating in a research note on Sunday, November 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Kala Pharmaceuticals has an average rating of “Buy” and a consensus target price of $36.80.
Shares of Kala Pharmaceuticals (KALA) opened at $15.60 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 11.00 and a current ratio of 11.00. Kala Pharmaceuticals has a 52 week low of $11.81 and a 52 week high of $26.75. The company has a market capitalization of $377.94 and a price-to-earnings ratio of -8.57.
In other Kala Pharmaceuticals news, major shareholder Orbimed Advisors Llc bought 240,484 shares of the firm’s stock in a transaction on Friday, January 12th. The stock was purchased at an average cost of $13.28 per share, with a total value of $3,193,627.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
A number of large investors have recently bought and sold shares of the business. Orbimed Advisors LLC bought a new stake in shares of Kala Pharmaceuticals in the third quarter valued at about $54,251,000. Crestline Management LP bought a new stake in shares of Kala Pharmaceuticals in the third quarter valued at about $888,000. Alyeska Investment Group L.P. bought a new stake in shares of Kala Pharmaceuticals in the third quarter valued at about $2,907,000. JPMorgan Chase & Co. bought a new stake in shares of Kala Pharmaceuticals in the third quarter valued at about $4,037,000. Finally, Commonwealth Equity Services Inc bought a new stake in shares of Kala Pharmaceuticals in the third quarter valued at about $360,000. 62.96% of the stock is owned by hedge funds and other institutional investors.
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Kala Pharmaceuticals Company Profile
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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