Kala Pharmaceuticals (NASDAQ:KALA) issued its quarterly earnings results on Thursday. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.01), MarketWatch Earnings reports.
Shares of NASDAQ:KALA traded down $0.45 during midday trading on Friday, reaching $7.20. The company’s stock had a trading volume of 200,214 shares, compared to its average volume of 426,016. The firm has a market capitalization of $252.89 million, a P/E ratio of -1.23 and a beta of 0.63. Kala Pharmaceuticals has a twelve month low of $7.11 and a twelve month high of $22.10. The company has a debt-to-equity ratio of 0.27, a current ratio of 9.79 and a quick ratio of 9.79.
A number of research analysts have issued reports on the stock. BidaskClub upgraded shares of Kala Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. HC Wainwright set a $35.00 price target on shares of Kala Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, August 10th. Wedbush set a $47.00 price target on shares of Kala Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, August 9th. Wells Fargo & Co restated a “buy” rating on shares of Kala Pharmaceuticals in a research note on Thursday, August 23rd. Finally, Zacks Investment Research upgraded shares of Kala Pharmaceuticals from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Wednesday, July 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Kala Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $25.05.
A hedge fund recently raised its stake in Kala Pharmaceuticals stock. Bank of New York Mellon Corp lifted its holdings in Kala Pharmaceuticals Inc (NASDAQ:KALA) by 23.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,327 shares of the company’s stock after acquiring an additional 7,784 shares during the quarter. Bank of New York Mellon Corp owned 0.17% of Kala Pharmaceuticals worth $568,000 as of its most recent SEC filing. Institutional investors and hedge funds own 48.53% of the company’s stock.
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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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