JPMorgan Chase & Co. Trims Kala Pharmaceuticals (NASDAQ:KALA) Target Price to $14.00

Kala Pharmaceuticals (NASDAQ:KALA) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from $22.00 to $14.00 in a research report issued on Friday, Stock Target Advisor reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 240.63% from the company’s previous close.

Other analysts have also issued reports about the stock. HC Wainwright decreased their price target on shares of Kala Pharmaceuticals from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Oppenheimer set a $9.00 price target on shares of Kala Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, August 7th. ValuEngine upgraded shares of Kala Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Wedbush restated an “outperform” rating and issued a $51.00 price target on shares of Kala Pharmaceuticals in a research report on Wednesday, August 7th. Finally, Zacks Investment Research upgraded shares of Kala Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.25 price target on the stock in a research report on Wednesday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $17.54.

KALA stock opened at $4.11 on Friday. The company has a quick ratio of 7.04, a current ratio of 7.50 and a debt-to-equity ratio of 1.16. The company has a market cap of $126.17 million, a price-to-earnings ratio of -1.66 and a beta of 2.13. The company has a 50 day moving average of $3.84 and a two-hundred day moving average of $5.11. Kala Pharmaceuticals has a 12-month low of $3.24 and a 12-month high of $9.25.

Kala Pharmaceuticals (NASDAQ:KALA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.01). The business had revenue of $1.45 million for the quarter, compared to the consensus estimate of $3.56 million. On average, research analysts anticipate that Kala Pharmaceuticals will post -2.75 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its holdings in shares of Kala Pharmaceuticals by 148.5% during the 2nd quarter. Bank of Montreal Can now owns 4,014 shares of the company’s stock worth $26,000 after acquiring an additional 2,399 shares during the period. Greenwich Wealth Management LLC lifted its holdings in shares of Kala Pharmaceuticals by 28.7% during the 2nd quarter. Greenwich Wealth Management LLC now owns 13,000 shares of the company’s stock worth $83,000 after acquiring an additional 2,900 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in shares of Kala Pharmaceuticals by 17.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 39,692 shares of the company’s stock worth $253,000 after acquiring an additional 5,806 shares during the period. Marshall Wace LLP bought a new position in shares of Kala Pharmaceuticals during the 1st quarter worth about $325,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Kala Pharmaceuticals by 34.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 51,405 shares of the company’s stock worth $328,000 after acquiring an additional 13,271 shares during the period. 68.84% of the stock is owned by institutional investors.

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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