Zacks: Brokerages Anticipate Kala Pharmaceuticals Inc (KALA) Will Post Earnings of -$0.52 Per Share

Wall Street brokerages predict that Kala Pharmaceuticals Inc (NASDAQ:KALA) will announce earnings of ($0.52) per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Kala Pharmaceuticals’ earnings, with estimates ranging from ($0.60) to ($0.45). Kala Pharmaceuticals reported earnings per share of ($0.46) during the same quarter last year, which would suggest a negative year over year growth rate of 13%. The company is expected to announce its next earnings report on Monday, March 25th.

On average, analysts expect that Kala Pharmaceuticals will report full year earnings of ($2.20) per share for the current fiscal year, with EPS estimates ranging from ($2.30) to ($2.11). For the next financial year, analysts forecast that the firm will post earnings of ($2.35) per share, with EPS estimates ranging from ($2.84) to ($2.03). Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Kala Pharmaceuticals.

Kala Pharmaceuticals (NASDAQ:KALA) last posted its earnings results on Thursday, November 8th. The company reported ($0.63) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by ($0.01).

KALA has been the subject of several research reports. HC Wainwright set a $35.00 target price on shares of Kala Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, August 1st. BidaskClub raised shares of Kala Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Wedbush set a $47.00 price target on shares of Kala Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, August 9th. Zacks Investment Research cut shares of Kala Pharmaceuticals from a “buy” rating to a “sell” rating in a research report on Wednesday, August 15th. Finally, Wells Fargo & Co set a $19.00 price target on shares of Kala Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, August 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Kala Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $22.45.

In other Kala Pharmaceuticals news, Director Gregory Grunberg purchased 606,060 shares of the firm’s stock in a transaction on Friday, October 5th. The stock was bought at an average price of $8.25 per share, with a total value of $4,999,995.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ra Capital Healthcare Fund Lp purchased 2,424,242 shares of the firm’s stock in a transaction on Wednesday, October 3rd. The stock was acquired at an average cost of $8.25 per share, with a total value of $19,999,996.50. The disclosure for this purchase can be found here. Company insiders own 35.58% of the company’s stock.

A number of hedge funds have recently modified their holdings of KALA. Alps Advisors Inc. purchased a new stake in shares of Kala Pharmaceuticals during the 2nd quarter worth $489,000. Wedbush Securities Inc. lifted its position in Kala Pharmaceuticals by 81.6% in the second quarter. Wedbush Securities Inc. now owns 56,420 shares of the company’s stock valued at $775,000 after acquiring an additional 25,350 shares during the last quarter. Rhumbline Advisers purchased a new stake in Kala Pharmaceuticals in the second quarter valued at $148,000. Bank of New York Mellon Corp lifted its position in Kala Pharmaceuticals by 23.2% in the second quarter. Bank of New York Mellon Corp now owns 41,327 shares of the company’s stock valued at $568,000 after acquiring an additional 7,784 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in Kala Pharmaceuticals in the second quarter valued at $152,000. 49.61% of the stock is owned by institutional investors.

Kala Pharmaceuticals stock traded up $0.04 during trading on Monday, hitting $6.22. The company had a trading volume of 119,800 shares, compared to its average volume of 281,038. Kala Pharmaceuticals has a 1-year low of $6.01 and a 1-year high of $21.37. The company has a debt-to-equity ratio of 0.30, a quick ratio of 6.27 and a current ratio of 6.34. The company has a market capitalization of $208.86 million, a PE ratio of -1.07 and a beta of 0.63.

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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Earnings History and Estimates for Kala Pharmaceuticals (NASDAQ:KALA)

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