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

ValuEngine upgraded shares of Kala Pharmaceuticals (NASDAQ:KALA) from a hold rating to a buy rating in a research note released on Thursday, ValuEngine reports.

A number of other equities analysts also recently weighed in on the stock. Wedbush reaffirmed a buy rating and issued a $34.00 price target on shares of Kala Pharmaceuticals in a research note on Sunday, March 29th. HC Wainwright upped their price target on shares of Kala Pharmaceuticals from $10.00 to $13.00 and gave the stock a buy rating in a research note on Wednesday, March 18th. Bank of America upgraded shares of Kala Pharmaceuticals from a neutral rating to a buy rating and set a $15.00 price objective for the company in a report on Monday, March 9th. Oppenheimer upped their price objective on shares of Kala Pharmaceuticals from $13.00 to $16.00 and gave the stock an outperform rating in a report on Tuesday, March 10th. Finally, Zacks Investment Research cut shares of Kala Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, March 10th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $17.00.

Shares of NASDAQ KALA traded up $0.11 during mid-day trading on Thursday, reaching $8.86. The company had a trading volume of 802,771 shares, compared to its average volume of 1,375,419. Kala Pharmaceuticals has a twelve month low of $3.24 and a twelve month high of $9.66. The company has a debt-to-equity ratio of 2.40, a quick ratio of 4.07 and a current ratio of 4.26. The stock has a market capitalization of $337.49 million, a PE ratio of -3.21 and a beta of 0.08. The stock’s 50 day moving average is $6.80 and its 200-day moving average is $5.09.

Kala Pharmaceuticals (NASDAQ:KALA) last posted its quarterly earnings results 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 company had revenue of $1.18 million during the quarter, compared to analyst estimates of $2.92 million. On average, sell-side analysts anticipate that Kala Pharmaceuticals will post -1.96 EPS for the current year.

In other news, Director Rajeev M. Shah purchased 6,337,135 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was bought at an average cost 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 is available through the SEC website. Also, COO Todd Bazemore purchased 10,000 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were purchased at an average price of $5.75 per share, with a total value of $57,500.00. Following the completion of the acquisition, the chief operating officer now directly 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 hedge funds have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC boosted its holdings in Kala Pharmaceuticals by 77.8% during the fourth quarter. Nuveen Asset Management LLC now owns 175,623 shares of the company’s stock valued at $648,000 after acquiring an additional 76,871 shares during the period. Geode Capital Management LLC boosted its holdings in Kala Pharmaceuticals by 10.3% during the fourth quarter. Geode Capital Management LLC now owns 337,412 shares of the company’s stock valued at $1,245,000 after acquiring an additional 31,476 shares during the period. Alyeska Investment Group L.P. boosted its holdings in Kala Pharmaceuticals by 9.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 437,220 shares of the company’s stock valued at $1,613,000 after acquiring an additional 37,284 shares during the period. UBS Group AG boosted its holdings in Kala Pharmaceuticals by 130.7% during the fourth quarter. UBS Group AG now owns 32,163 shares of the company’s stock valued at $119,000 after acquiring an additional 18,219 shares during the period. Finally, Sofinnova Investments Inc. boosted its holdings in Kala Pharmaceuticals by 39.0% during the fourth quarter. Sofinnova Investments Inc. now owns 664,641 shares of the company’s stock valued at $2,453,000 after acquiring an additional 186,435 shares during the period. 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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