Zacks: Brokerages Expect Kala Pharmaceuticals Inc (NASDAQ:KALA) Will Announce Earnings of -$0.60 Per Share

Wall Street brokerages expect Kala Pharmaceuticals Inc (NASDAQ:KALA) to announce earnings of ($0.60) per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Kala Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.68) and the highest estimate coming in at ($0.46). Kala Pharmaceuticals reported earnings per share of ($0.75) during the same quarter last year, which indicates a positive year over year growth rate of 20%. The company is expected to announce its next earnings results on Monday, March 9th.

According to Zacks, analysts expect that Kala Pharmaceuticals will report full year earnings of ($2.76) per share for the current fiscal year, with EPS estimates ranging from ($2.86) to ($2.57). For the next year, analysts anticipate that the business will report earnings of ($2.15) per share, with EPS estimates ranging from ($2.54) to ($1.62). Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover Kala Pharmaceuticals.

Kala Pharmaceuticals (NASDAQ:KALA) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by ($0.01). The company had revenue of $1.45 million during the quarter, compared to analysts’ expectations of $3.56 million.

Several equities analysts have issued reports on KALA shares. ValuEngine cut Kala Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday. Wedbush reiterated a “buy” rating and set a $51.00 target price on shares of Kala Pharmaceuticals in a research report on Monday, December 23rd. HC Wainwright reiterated a “buy” rating and set a $10.00 target price (down previously from $12.00) on shares of Kala Pharmaceuticals in a research report on Monday, November 11th. Bank of America cut Kala Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $9.00 to $6.00 in a research report on Tuesday, December 17th. Finally, Zacks Investment Research cut Kala Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $15.88.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC lifted its stake in Kala Pharmaceuticals by 1,279.2% in the 3rd quarter. Millennium Management LLC now owns 560,121 shares of the company’s stock valued at $2,131,000 after buying an additional 519,508 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Kala Pharmaceuticals during the 3rd quarter worth $1,180,000. BlackRock Inc. lifted its stake in shares of Kala Pharmaceuticals by 20.3% during the 2nd quarter. BlackRock Inc. now owns 1,684,802 shares of the company’s stock worth $10,749,000 after purchasing an additional 283,747 shares during the period. Vanguard Group Inc. lifted its stake in shares of Kala Pharmaceuticals by 25.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,237,683 shares of the company’s stock worth $7,896,000 after purchasing an additional 248,287 shares during the period. Finally, Boston Partners lifted its stake in shares of Kala Pharmaceuticals by 542.6% during the 2nd quarter. Boston Partners now owns 118,431 shares of the company’s stock worth $756,000 after purchasing an additional 100,000 shares during the period. Institutional investors own 67.24% of the company’s stock.

KALA stock traded up $0.84 during trading on Friday, hitting $6.52. The company had a trading volume of 1,216,149 shares, compared to its average volume of 777,858. The firm has a market cap of $196.21 million, a PE ratio of -2.26 and a beta of 2.16. Kala Pharmaceuticals has a 1-year low of $3.24 and a 1-year high of $9.25. The firm has a 50-day moving average price of $4.34 and a 200-day moving average price of $4.44. The company has a quick ratio of 5.94, a current ratio of 6.25 and a debt-to-equity ratio of 1.65.

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

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