Wedbush Securities Inc. increased its position in shares of Kala Pharmaceuticals Inc (NASDAQ:KALA) by 105.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 115,819 shares of the company’s stock after buying an additional 59,399 shares during the quarter. Wedbush Securities Inc.’s holdings in Kala Pharmaceuticals were worth $1,143,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of Kala Pharmaceuticals by 16.8% during the 3rd quarter. BlackRock Inc. now owns 1,105,361 shares of the company’s stock worth $10,910,000 after buying an additional 158,883 shares during the period. Greylock Xii GP LLC bought a new stake in shares of Kala Pharmaceuticals during the 3rd quarter worth $1,970,000. JPMorgan Chase & Co. boosted its holdings in shares of Kala Pharmaceuticals by 37.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 160,080 shares of the company’s stock worth $1,580,000 after buying an additional 43,599 shares during the period. Dimensional Fund Advisors LP bought a new stake in Kala Pharmaceuticals in the 3rd quarter valued at $1,551,000. Finally, Bridgeway Capital Management Inc. bought a new stake in Kala Pharmaceuticals in the 3rd quarter valued at $839,000. 47.58% of the stock is owned by institutional investors and hedge funds.

A number of analysts have weighed in on the stock. HC Wainwright set a $37.00 price target on shares of Kala Pharmaceuticals and gave the company a “buy” rating in a report on Monday, September 10th. Wells Fargo & Co reissued a “buy” rating on shares of Kala Pharmaceuticals in a report on Thursday, August 23rd. BidaskClub downgraded shares of Kala Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 11th. Wedbush set a $47.00 price target on shares of Kala Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, August 9th. Finally, Zacks Investment Research raised shares of Kala Pharmaceuticals from a “hold” rating to a “buy” rating and set a $9.25 price target for the company in a report on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $22.45.

In other Kala Pharmaceuticals news, Director Ra Capital Healthcare Fund Lp acquired 2,424,242 shares of Kala Pharmaceuticals stock in a transaction dated Wednesday, October 3rd. The stock was bought at an average cost of $8.25 per share, with a total value of $19,999,996.50. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gregory Grunberg acquired 606,060 shares of Kala Pharmaceuticals stock in a transaction dated Friday, October 5th. The shares were acquired at an average cost of $8.25 per share, with a total value of $4,999,995.00. The disclosure for this purchase can be found here. 35.58% of the stock is owned by corporate insiders.

Shares of Kala Pharmaceuticals stock opened at $5.87 on Thursday. The company has a quick ratio of 6.27, a current ratio of 6.34 and a debt-to-equity ratio of 0.30. Kala Pharmaceuticals Inc has a fifty-two week low of $5.82 and a fifty-two week high of $20.17. The firm has a market capitalization of $203.45 million, a price-to-earnings ratio of -1.01 and a beta of 0.56.

Kala Pharmaceuticals (NASDAQ:KALA) last issued its quarterly earnings results on Thursday, November 8th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.01). On average, equities research analysts expect that Kala Pharmaceuticals Inc will post -2.2 earnings per share for the current fiscal year.

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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. Its product candidates include KPI-121 1.0%, which has completed Phase III clinical trials for the treatment of inflammation and pain following ocular surgery; INVELTYS that has completed Phase III clinical trials for the temporary relief of the signs and symptoms of dry eye disease; 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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Institutional Ownership by Quarter for Kala Pharmaceuticals (NASDAQ:KALA)

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