Kala Pharmaceuticals Inc (KALA) Receives $23.60 Consensus Price Target from Brokerages
Shares of Kala Pharmaceuticals Inc (NASDAQ:KALA) have been assigned a consensus recommendation of “Buy” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $23.60.
Several research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Kala Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 5th. BidaskClub upgraded shares of Kala Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Jefferies Financial Group assumed coverage on shares of Kala Pharmaceuticals in a report on Thursday, March 14th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Wedbush set a $51.00 target price on shares of Kala Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, January 16th.
Several large investors have recently bought and sold shares of KALA. American International Group Inc. increased its holdings in shares of Kala Pharmaceuticals by 34.3% during the 4th quarter. American International Group Inc. now owns 10,369 shares of the company’s stock worth $51,000 after purchasing an additional 2,646 shares during the period. Rhumbline Advisers bought a new position in shares of Kala Pharmaceuticals during the 4th quarter worth about $75,000. Bradley Foster & Sargent Inc. CT bought a new position in shares of Kala Pharmaceuticals during the 4th quarter worth about $115,000. United Services Automobile Association boosted its position in shares of Kala Pharmaceuticals by 33.6% during the 4th quarter. United Services Automobile Association now owns 24,218 shares of the company’s stock valued at $118,000 after acquiring an additional 6,088 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of Kala Pharmaceuticals by 12.4% during the 4th quarter. Squarepoint Ops LLC now owns 27,871 shares of the company’s stock valued at $136,000 after acquiring an additional 3,071 shares in the last quarter. Institutional investors own 67.20% of the company’s stock.
Kala Pharmaceuticals (NASDAQ:KALA) last announced its earnings results on Monday, March 11th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.23). On average, research analysts expect that Kala Pharmaceuticals will post -2.83 EPS for the current fiscal year.
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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