Zacks Investment Research lowered shares of Kala Pharmaceuticals, Inc. (NASDAQ:KALA) from a hold rating to a sell rating in a report released on Tuesday, October 17th.
According to Zacks, “Kala Pharmaceuticals, Inc. is a biopharmaceutical company. It focused on the development and commercialization of therapeutics through its nanoparticle-based Mucus Penetrating Particles technology. The Company designs proprietary drug delivery technology to penetrate mucosal tissue such as the eyes, lungs, gastrointestinal tracts and the female reproductive systems. Kala Pharmaceuticals, Inc. is based in Waltham, United States. “
A number of other equities analysts have also recently issued reports on the company. Oppenheimer Holdings, Inc. began coverage on Kala Pharmaceuticals in a report on Tuesday, August 15th. They issued an outperform rating and a $46.00 price objective for the company. Bank of America Corporation assumed coverage on Kala Pharmaceuticals in a research note on Monday, August 14th. They issued a buy rating and a $33.00 target price for the company. Wells Fargo & Company assumed coverage on Kala Pharmaceuticals in a research report on Monday, August 14th. They set an outperform rating and a $24.00 price target for the company. Wedbush assumed coverage on Kala Pharmaceuticals in a research report on Monday, August 14th. They issued an outperform rating and a $46.00 target price for the company. Finally, J P Morgan Chase & Co began coverage on Kala Pharmaceuticals in a research report on Monday, August 14th. They issued an overweight rating and a $35.00 target price for the company. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $36.80.
Shares of Kala Pharmaceuticals (NASDAQ KALA) traded up $1.10 on Tuesday, reaching $17.42. 78,000 shares of the company’s stock were exchanged, compared to its average volume of 154,644. Kala Pharmaceuticals has a one year low of $13.51 and a one year high of $26.75. The company has a quick ratio of 3.55, a current ratio of 3.55 and a debt-to-equity ratio of -0.07.
A hedge fund recently bought a new stake in Kala Pharmaceuticals stock. Victory Capital Management Inc. acquired a new stake in shares of Kala Pharmaceuticals, Inc. (NASDAQ:KALA) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 543,525 shares of the company’s stock, valued at approximately $12,414,000. Victory Capital Management Inc. owned approximately 2.24% of Kala Pharmaceuticals as of its most recent SEC filing. 2.46% of the stock is owned by hedge funds and other institutional investors.
About Kala Pharmaceuticals
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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