Kala Pharmaceuticals’ (NASDAQ:KALA) lock-up period is set to expire on Tuesday, January 16th. Kala Pharmaceuticals had issued 6,000,000 shares in its initial public offering on July 20th. The total size of the offering was $90,000,000 based on an initial share price of $15.00. After the end of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.
KALA has been the subject of several recent research reports. BidaskClub raised shares of Kala Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, December 29th. Wedbush reissued an “outperform” rating and set a $46.00 target price on shares of Kala Pharmaceuticals in a report on Thursday, October 19th. JPMorgan Chase & Co. set a $35.00 target price on shares of Kala Pharmaceuticals and gave the stock a “buy” rating in a report on Sunday, November 19th. Zacks Investment Research cut shares of Kala Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Kala Pharmaceuticals in a report on Friday, January 5th. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the company. Kala Pharmaceuticals has an average rating of “Hold” and a consensus price target of $36.80.
Kala Pharmaceuticals (KALA) opened at $13.00 on Thursday. Kala Pharmaceuticals has a fifty-two week low of $11.81 and a fifty-two week high of $26.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 11.00 and a quick ratio of 11.00. The firm has a market cap of $313.74 and a price-to-earnings ratio of -7.14.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky purchased a new position in Kala Pharmaceuticals in the third quarter valued at $105,000. American International Group Inc. purchased a new position in Kala Pharmaceuticals in the third quarter valued at $122,000. Susquehanna International Group LLP purchased a new position in Kala Pharmaceuticals in the third quarter valued at $222,000. Cubist Systematic Strategies LLC purchased a new position in Kala Pharmaceuticals in the third quarter valued at $228,000. Finally, California State Teachers Retirement System purchased a new position in Kala Pharmaceuticals in the third quarter valued at $301,000. 62.96% of the stock is owned by institutional investors.
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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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