Kala Pharmaceuticals Inc (NASDAQ:KALA) has earned a consensus recommendation of “Buy” from the nine ratings firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $20.67.
KALA has been the subject of several recent research reports. HC Wainwright lowered their target price on shares of Kala Pharmaceuticals from $15.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Wedbush reiterated an “outperform” rating and set a $51.00 target price on shares of Kala Pharmaceuticals in a report on Wednesday, August 7th. Oppenheimer set a $9.00 target price on shares of Kala Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, August 7th. Zacks Investment Research lowered shares of Kala Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Finally, ValuEngine upgraded shares of Kala Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can grew its position in Kala Pharmaceuticals by 148.5% in the 2nd quarter. Bank of Montreal Can now owns 4,014 shares of the company’s stock worth $26,000 after purchasing an additional 2,399 shares during the period. BNP Paribas Arbitrage SA grew its position in Kala Pharmaceuticals by 877.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,410 shares of the company’s stock worth $28,000 after purchasing an additional 3,061 shares during the period. Greenwich Wealth Management LLC grew its position in Kala Pharmaceuticals by 28.7% in the 2nd quarter. Greenwich Wealth Management LLC now owns 13,000 shares of the company’s stock worth $83,000 after purchasing an additional 2,900 shares during the period. Boston Partners bought a new stake in Kala Pharmaceuticals in the 1st quarter worth approximately $152,000. Finally, Rhumbline Advisers grew its position in Kala Pharmaceuticals by 27.4% in the 1st quarter. Rhumbline Advisers now owns 19,430 shares of the company’s stock worth $161,000 after purchasing an additional 4,174 shares during the period. Institutional investors own 68.63% of the company’s stock.
Kala Pharmaceuticals (NASDAQ:KALA) last released its earnings results on Tuesday, August 6th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.74) by $0.04. The business had revenue of $2.06 million for the quarter, compared to analysts’ expectations of $2.62 million. As a group, sell-side analysts forecast that Kala Pharmaceuticals will post -2.75 earnings per share 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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