HC Wainwright Reaffirms Buy Rating for Kala Pharmaceuticals (NASDAQ:KALA)
HC Wainwright reaffirmed their buy rating on shares of Kala Pharmaceuticals (NASDAQ:KALA) in a research note issued to investors on Tuesday morning, AnalystRatings.com reports. They currently have a $10.00 price objective on the stock.
Several other analysts have also weighed in on KALA. Zacks Investment Research raised Kala Pharmaceuticals from a hold rating to a strong-buy rating and set a $6.50 price objective for the company in a report on Tuesday. ValuEngine lowered Kala Pharmaceuticals from a buy rating to a hold rating in a report on Saturday, January 18th. Bank of America lowered Kala Pharmaceuticals from a buy rating to a neutral rating and lowered their price objective for the company from $9.00 to $6.00 in a report on Tuesday, December 17th. Finally, Wedbush reissued a buy rating and issued a $51.00 price objective on shares of Kala Pharmaceuticals in a report on Monday, December 23rd. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $16.25.
Shares of NASDAQ KALA traded down $0.17 during midday trading on Tuesday, reaching $7.06. 107,185 shares of the company’s stock were exchanged, compared to its average volume of 870,412. Kala Pharmaceuticals has a 52-week low of $3.24 and a 52-week high of $9.25. The stock has a market capitalization of $233.52 million, a PE ratio of -2.45 and a beta of 2.16. The company has a debt-to-equity ratio of 1.65, a quick ratio of 5.94 and a current ratio of 6.25. The business’s fifty day moving average price is $4.65 and its two-hundred day moving average price is $4.45.
A number of hedge funds have recently modified their holdings of KALA. Bank of Montreal Can boosted its stake in Kala Pharmaceuticals by 148.5% in the second quarter. Bank of Montreal Can now owns 4,014 shares of the company’s stock valued at $26,000 after acquiring an additional 2,399 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of Kala Pharmaceuticals by 17.1% during the second quarter. Parametric Portfolio Associates LLC now owns 39,692 shares of the company’s stock worth $253,000 after buying an additional 5,806 shares during the period. Marshall Wace LLP acquired a new position in shares of Kala Pharmaceuticals during the first quarter worth approximately $325,000. Charles Schwab Investment Management Inc. boosted its position in shares of Kala Pharmaceuticals by 34.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 51,405 shares of the company’s stock worth $328,000 after buying an additional 13,271 shares during the period. Finally, Wedbush Securities Inc. boosted its position in shares of Kala Pharmaceuticals by 163.9% during the third quarter. Wedbush Securities Inc. now owns 89,225 shares of the company’s stock worth $340,000 after buying an additional 55,410 shares during the period. Institutional investors own 67.24% 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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