Kala Pharmaceuticals (NASDAQ:KALA)‘s stock had its “buy” rating reaffirmed by equities research analysts at Wedbush in a report released on Monday, AnalystRatings.com reports. They presently have a $51.00 price objective on the stock.
A number of other research firms have also issued reports on KALA. HC Wainwright restated a “buy” rating and issued a $10.00 price target (down from $12.00) on shares of Kala Pharmaceuticals in a research report on Monday, November 11th. cut Kala Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Finally, Bank of America downgraded Kala Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $9.00 to $6.00 in a research report on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $15.88.
Kala Pharmaceuticals (NASDAQ:KALA) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.68) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.67) by ($0.01). The business had revenue of $1.45 million for the quarter, compared to the consensus estimate of $3.56 million. As a group, research analysts forecast that Kala Pharmaceuticals will post -2.76 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of the business. Bank of Montreal Can raised its position in Kala Pharmaceuticals by 148.5% in the second quarter. Bank of Montreal Can now owns 4,014 shares of the company’s stock valued at $26,000 after purchasing an additional 2,399 shares during the period. Greenwich Wealth Management LLC lifted its stake in shares of Kala Pharmaceuticals by 28.7% in the 2nd quarter. Greenwich Wealth Management LLC now owns 13,000 shares of the company’s stock valued at $83,000 after purchasing an additional 2,900 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Kala Pharmaceuticals by 17.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 39,692 shares of the company’s stock valued at $253,000 after purchasing an additional 5,806 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Kala Pharmaceuticals in the 1st quarter valued at $325,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Kala Pharmaceuticals by 34.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 51,405 shares of the company’s stock worth $328,000 after purchasing an additional 13,271 shares during the period. 67.24% of the stock is currently owned by institutional investors.
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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