Kala Pharmaceuticals (KALA) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Kala Pharmaceuticals (NASDAQ:KALA) from a sell rating to a hold rating in a research report sent to investors on Thursday morning, Zacks.com reports.

According to Zacks, “Kala Pharmaceuticals, Inc. is a biopharmaceutical company. It focused on the development and commercialization of therapeutics through its nanoparticle-based Mucus Penetrating Particles technology. The Company designs proprietary drug delivery technology to penetrate mucosal tissue such as the eyes, lungs, gastrointestinal tracts and the female reproductive systems. Kala Pharmaceuticals, Inc. is based in Waltham, United States. “

KALA has been the subject of a number of other reports. BidaskClub upgraded Kala Pharmaceuticals from a hold rating to a buy rating in a research report on Wednesday, February 20th. Oppenheimer started coverage on Kala Pharmaceuticals in a research report on Wednesday, April 24th. They issued an outperform rating and a $11.00 price target for the company. Wedbush set a $51.00 price target on Kala Pharmaceuticals and gave the stock a buy rating in a research report on Wednesday, January 16th. Jefferies Financial Group started coverage on Kala Pharmaceuticals in a research report on Thursday, March 14th. They issued a buy rating and a $15.00 price target for the company. Finally, HC Wainwright restated a buy rating and issued a $15.00 price target on shares of Kala Pharmaceuticals in a research report on Thursday, December 27th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $19.21.

NASDAQ KALA opened at $7.60 on Thursday. The company has a quick ratio of 10.17, a current ratio of 10.41 and a debt-to-equity ratio of 0.67. The company has a market cap of $257.51 million, a PE ratio of -3.06 and a beta of 1.73. Kala Pharmaceuticals has a one year low of $4.03 and a one year high of $17.39.

Kala Pharmaceuticals (NASDAQ:KALA) last issued its quarterly earnings results on Monday, March 11th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.23). On average, sell-side analysts expect that Kala Pharmaceuticals will post -3.02 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in KALA. RA Capital Management LLC increased its stake in Kala Pharmaceuticals by 114.7% in the fourth quarter. RA Capital Management LLC now owns 4,537,478 shares of the company’s stock worth $22,188,000 after purchasing an additional 2,424,242 shares during the period. Athyrium Capital Management LP purchased a new stake in Kala Pharmaceuticals in the fourth quarter worth $6,520,000. Sofinnova Investments Inc. increased its stake in Kala Pharmaceuticals by 365.8% in the fourth quarter. Sofinnova Investments Inc. now owns 445,516 shares of the company’s stock worth $2,178,000 after purchasing an additional 349,861 shares during the period. BlackRock Inc. increased its stake in Kala Pharmaceuticals by 29.2% in the fourth quarter. BlackRock Inc. now owns 1,427,672 shares of the company’s stock worth $6,980,000 after purchasing an additional 322,311 shares during the period. Finally, Fosun International Ltd purchased a new stake in Kala Pharmaceuticals in the fourth quarter worth $1,208,000. Institutional investors and hedge funds own 67.20% 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. 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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