Kala Pharmaceuticals (KALA) Cut to Strong Sell at BidaskClub

BidaskClub downgraded shares of Kala Pharmaceuticals (NASDAQ:KALA) from a sell rating to a strong sell rating in a research note issued to investors on Saturday.

Other analysts have also issued research reports about the company. Wells Fargo & Co set a $19.00 price objective on Kala Pharmaceuticals and gave the company a buy rating in a research note on Wednesday, August 15th. HC Wainwright set a $35.00 price objective on Kala Pharmaceuticals and gave the company a buy rating in a research note on Friday, August 10th. Wedbush set a $47.00 price objective on Kala Pharmaceuticals and gave the company a buy rating in a research note on Thursday, August 9th. Finally, Zacks Investment Research raised Kala Pharmaceuticals from a hold rating to a buy rating and set a $14.00 price objective on the stock in a research note on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Kala Pharmaceuticals has a consensus rating of Buy and an average target price of $28.45.

Kala Pharmaceuticals stock opened at $7.65 on Friday. The company has a current ratio of 9.79, a quick ratio of 9.79 and a debt-to-equity ratio of 0.27. Kala Pharmaceuticals has a fifty-two week low of $7.53 and a fifty-two week high of $22.10.

Kala Pharmaceuticals (NASDAQ:KALA) last posted its earnings results on Thursday, August 9th. The company reported ($0.60) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.10). Analysts anticipate that Kala Pharmaceuticals will post -2.25 earnings per share for the current fiscal year.

In other Kala Pharmaceuticals news, Director Ra Capital Healthcare Fund Lp bought 2,424,242 shares of Kala Pharmaceuticals stock in a transaction that occurred on Wednesday, October 3rd. The shares were purchased at an average cost of $8.25 per share, for a total transaction of $19,999,996.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory Grunberg bought 606,060 shares of Kala Pharmaceuticals stock in a transaction that occurred on Friday, October 5th. The shares were acquired at an average price of $8.25 per share, for a total transaction of $4,999,995.00. The disclosure for this purchase can be found here. 35.58% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KALA. Schwab Charles Investment Management Inc. lifted its position in Kala Pharmaceuticals by 86.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 25,500 shares of the company’s stock worth $404,000 after buying an additional 11,800 shares during the period. Northern Trust Corp raised its holdings in shares of Kala Pharmaceuticals by 82.2% in the 1st quarter. Northern Trust Corp now owns 133,004 shares of the company’s stock worth $2,106,000 after purchasing an additional 60,000 shares during the period. BlackRock Inc. raised its holdings in shares of Kala Pharmaceuticals by 36.5% in the 1st quarter. BlackRock Inc. now owns 1,007,691 shares of the company’s stock worth $15,951,000 after purchasing an additional 269,641 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Kala Pharmaceuticals by 94.7% in the 1st quarter. New York State Common Retirement Fund now owns 14,600 shares of the company’s stock worth $231,000 after purchasing an additional 7,100 shares during the period. Finally, MetLife Investment Advisors LLC purchased a new position in shares of Kala Pharmaceuticals in the 1st quarter worth about $119,000. Hedge funds and other institutional investors own 53.62% 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. 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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