Wells Fargo & Company MN Invests $3.75 Million in Kala Pharmaceuticals Inc (KALA)

Wells Fargo & Company MN purchased a new stake in shares of Kala Pharmaceuticals Inc (NASDAQ:KALA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 164,269 shares of the company’s stock, valued at approximately $3,752,000. Wells Fargo & Company MN owned 0.67% of Kala Pharmaceuticals at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Victory Capital Management Inc. bought a new stake in shares of Kala Pharmaceuticals during the 3rd quarter worth about $12,414,000. Bank of New York Mellon Corp bought a new stake in Kala Pharmaceuticals during the 3rd quarter valued at approximately $540,000. Commonwealth Equity Services Inc bought a new stake in Kala Pharmaceuticals during the 3rd quarter valued at approximately $360,000. EAM Investors LLC bought a new stake in Kala Pharmaceuticals during the 3rd quarter valued at approximately $1,353,000. Finally, American International Group Inc. bought a new stake in Kala Pharmaceuticals during the 3rd quarter valued at approximately $122,000. 62.96% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages recently weighed in on KALA. BidaskClub upgraded Kala Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Co reaffirmed a “buy” rating on shares of Kala Pharmaceuticals in a report on Friday, January 5th. Wedbush reaffirmed an “outperform” rating and issued a $46.00 price target on shares of Kala Pharmaceuticals in a report on Friday, December 22nd. JPMorgan Chase & Co. set a $35.00 price target on Kala Pharmaceuticals and gave the company a “buy” rating in a report on Sunday, November 19th. Finally, Zacks Investment Research cut Kala Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $36.80.

In related news, major shareholder Orbimed Advisors Llc purchased 170,338 shares of Kala Pharmaceuticals stock in a transaction dated Wednesday, January 10th. The shares were acquired at an average cost of $12.83 per share, for a total transaction of $2,185,436.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of Kala Pharmaceuticals Inc (NASDAQ KALA) opened at $15.60 on Tuesday. Kala Pharmaceuticals Inc has a twelve month low of $11.81 and a twelve month high of $26.75. The company has a quick ratio of 11.00, a current ratio of 11.00 and a debt-to-equity ratio of 0.14.

Kala Pharmaceuticals (NASDAQ:KALA) last announced its quarterly earnings data on Tuesday, November 7th. The company reported ($0.56) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.14). equities analysts anticipate that Kala Pharmaceuticals Inc will post -2.22 earnings per share for the current fiscal year.

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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.

Institutional Ownership by Quarter for Kala Pharmaceuticals (NASDAQ:KALA)

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