Kala Pharmaceuticals (NASDAQ:KALA) Upgraded to “Buy” at ValuEngine

Kala Pharmaceuticals (NASDAQ:KALA) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday, ValuEngine reports.

Several other analysts have also commented on the stock. HC Wainwright increased their price target on shares of Kala Pharmaceuticals from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Oppenheimer increased their price target on shares of Kala Pharmaceuticals from $13.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, March 10th. Bank of America raised shares of Kala Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Monday, March 9th. Wedbush reissued a “buy” rating and set a $34.00 price target on shares of Kala Pharmaceuticals in a research report on Sunday, March 29th. Finally, Zacks Investment Research lowered shares of Kala Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Two equities research analysts have rated the stock with 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 $17.00.

NASDAQ:KALA traded up $0.11 during mid-day trading on Thursday, reaching $8.86. The company’s stock had a trading volume of 802,771 shares, compared to its average volume of 1,375,419. Kala Pharmaceuticals has a 1 year low of $3.24 and a 1 year high of $9.66. The stock has a fifty day moving average of $6.80 and a 200-day moving average of $5.09. The firm has a market capitalization of $337.49 million, a PE ratio of -3.21 and a beta of 0.08. The company has a quick ratio of 4.07, a current ratio of 4.26 and a debt-to-equity ratio of 2.40.

Kala Pharmaceuticals (NASDAQ:KALA) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.63) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.60) by ($0.03). Kala Pharmaceuticals had a negative return on equity of 173.83% and a negative net margin of 1,553.29%. The business had revenue of $1.18 million during the quarter, compared to analysts’ expectations of $2.92 million. On average, analysts expect that Kala Pharmaceuticals will post -1.96 earnings per share for the current year.

In related news, Director Rajeev M. Shah acquired 6,337,135 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were purchased at an average price of $7.89 per share, for a total transaction of $49,999,995.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Todd Bazemore acquired 10,000 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were bought at an average price of $5.75 per share, for a total transaction of $57,500.00. Following the acquisition, the chief operating officer now owns 10,000 shares of the company’s stock, valued at $57,500. The disclosure for this purchase can be found here. Corporate insiders own 30.77% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Nuveen Asset Management LLC increased its holdings in Kala Pharmaceuticals by 77.8% in the 4th quarter. Nuveen Asset Management LLC now owns 175,623 shares of the company’s stock worth $648,000 after buying an additional 76,871 shares during the period. Geode Capital Management LLC increased its holdings in Kala Pharmaceuticals by 10.3% in the 4th quarter. Geode Capital Management LLC now owns 337,412 shares of the company’s stock worth $1,245,000 after buying an additional 31,476 shares during the period. Alyeska Investment Group L.P. increased its holdings in Kala Pharmaceuticals by 9.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 437,220 shares of the company’s stock worth $1,613,000 after buying an additional 37,284 shares during the period. UBS Group AG increased its holdings in Kala Pharmaceuticals by 130.7% in the 4th quarter. UBS Group AG now owns 32,163 shares of the company’s stock worth $119,000 after buying an additional 18,219 shares during the period. Finally, Sofinnova Investments Inc. boosted its position in Kala Pharmaceuticals by 39.0% in the 4th quarter. Sofinnova Investments Inc. now owns 664,641 shares of the company’s stock worth $2,453,000 after purchasing an additional 186,435 shares in the last quarter. Institutional investors own 59.42% of the company’s stock.

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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