Wedbush Reiterates “$51.00” Price Target for Kala Pharmaceuticals (KALA)

Kala Pharmaceuticals (NASDAQ:KALA) has been assigned a $51.00 target price by investment analysts at Wedbush in a research report issued to clients and investors on Sunday. The brokerage currently has a “buy” rating on the stock. Wedbush’s price target would suggest a potential upside of 302.53% from the stock’s previous close.

Several other research firms have also commented on KALA. ValuEngine upgraded Kala Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. BidaskClub lowered Kala Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 1st. HC Wainwright set a $35.00 price target on Kala Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, August 10th. Wells Fargo & Co restated a “buy” rating on shares of Kala Pharmaceuticals in a research report on Thursday. Finally, Zacks Investment Research upgraded Kala Pharmaceuticals from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Wednesday, July 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $31.20.

Shares of KALA traded down $0.16 during midday trading on Friday, hitting $12.67. 9,175 shares of the stock were exchanged, compared to its average volume of 320,240. Kala Pharmaceuticals has a 52-week low of $11.39 and a 52-week high of $26.75. The firm has a market cap of $315.52 million and a P/E ratio of -2.17. The company has a quick ratio of 9.79, a current ratio of 9.79 and a debt-to-equity ratio of 0.27.

Kala Pharmaceuticals (NASDAQ:KALA) last released its quarterly earnings results on Thursday, August 9th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.10). sell-side analysts expect that Kala Pharmaceuticals will post -2.19 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC purchased a new position in Kala Pharmaceuticals in the first quarter valued at $119,000. American International Group Inc. boosted its holdings in Kala Pharmaceuticals by 86.6% in the first quarter. American International Group Inc. now owns 9,119 shares of the company’s stock valued at $144,000 after purchasing an additional 4,232 shares during the period. Rhumbline Advisers purchased a new position in Kala Pharmaceuticals in the second quarter valued at $148,000. Paloma Partners Management Co purchased a new position in Kala Pharmaceuticals in the second quarter valued at $152,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Kala Pharmaceuticals by 489.8% in the first quarter. The Manufacturers Life Insurance Company now owns 11,778 shares of the company’s stock valued at $186,000 after purchasing an additional 9,781 shares during the period. Institutional investors and hedge funds own 72.19% of the company’s stock.

About Kala Pharmaceuticals

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. Its product candidates include KPI-121 1.0%, which has completed Phase III clinical trials for the treatment of inflammation and pain following ocular surgery; INVELTYS that has completed Phase III clinical trials for the temporary relief of the signs and symptoms of dry eye disease; 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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