Kala Pharmaceuticals (KALA) Downgraded by BidaskClub to Hold

BidaskClub lowered shares of Kala Pharmaceuticals (NASDAQ:KALA) from a buy rating to a hold rating in a report released on Tuesday morning, BidAskClub reports.

Several other research firms have also issued reports on KALA. ValuEngine lowered Kala Pharmaceuticals from a buy rating to a hold rating in a report on Friday, December 21st. Zacks Investment Research raised Kala Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, April 3rd. Wedbush set a $51.00 target price on Kala Pharmaceuticals and gave the company a buy rating in a report on Wednesday, January 16th. HC Wainwright reaffirmed a buy rating and issued a $15.00 target price on shares of Kala Pharmaceuticals in a report on Thursday, December 27th. Finally, Jefferies Financial Group began coverage on Kala Pharmaceuticals in a report on Thursday, March 14th. They issued a buy rating and a $15.00 target price for the company. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Kala Pharmaceuticals has an average rating of Buy and a consensus price target of $20.58.

Shares of KALA opened at $7.92 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 10.41 and a quick ratio of 10.17. Kala Pharmaceuticals has a 52 week low of $4.03 and a 52 week high of $17.53.

Kala Pharmaceuticals (NASDAQ:KALA) last issued its quarterly earnings data on Monday, March 11th. The company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.23). Sell-side analysts forecast that Kala Pharmaceuticals will post -2.83 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of KALA. JPMorgan Chase & Co. lifted its stake in Kala Pharmaceuticals by 37.4% in the third quarter. JPMorgan Chase & Co. now owns 160,080 shares of the company’s stock valued at $1,580,000 after purchasing an additional 43,599 shares during the last quarter. BlackRock Inc. lifted its stake in Kala Pharmaceuticals by 16.8% in the third quarter. BlackRock Inc. now owns 1,105,361 shares of the company’s stock valued at $10,910,000 after purchasing an additional 158,883 shares during the last quarter. Virtu Financial LLC purchased a new position in Kala Pharmaceuticals in the third quarter valued at approximately $200,000. Dimensional Fund Advisors LP purchased a new position in Kala Pharmaceuticals in the third quarter valued at approximately $1,551,000. Finally, Standard Life Aberdeen plc purchased a new position in Kala Pharmaceuticals in the third quarter valued at approximately $420,000. Institutional investors and hedge funds own 67.20% of the company’s stock.

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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Analyst Recommendations for Kala Pharmaceuticals (NASDAQ:KALA)

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