BidaskClub cut shares of Kala Pharmaceuticals (NASDAQ:KALA) from a sell rating to a strong sell rating in a research report released on Saturday.

Several other equities analysts also recently weighed in on the company. HC Wainwright set a $32.00 price objective on Kala Pharmaceuticals and gave the company a buy rating in a research note on Wednesday, October 17th. Wedbush set a $51.00 price objective on Kala Pharmaceuticals and gave the company a buy rating in a research note on Tuesday, October 16th. Zacks Investment Research raised Kala Pharmaceuticals from a hold rating to a buy rating and set a $9.25 price target for the company in a research report on Thursday, October 11th. Finally, Wells Fargo & Co reissued a buy rating and set a $15.00 price target (down previously from $19.00) on shares of Kala Pharmaceuticals in a research report on Thursday, October 4th. One 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 a consensus rating of Buy and a consensus price target of $28.45.

NASDAQ KALA opened at $7.45 on Friday. Kala Pharmaceuticals has a 1-year low of $7.28 and a 1-year high of $22.10. The company has a market capitalization of $263.53 million, a P/E ratio of -1.28 and a beta of -1.07. The company has a quick ratio of 9.79, a current ratio of 9.79 and a debt-to-equity ratio of 0.27.

Kala Pharmaceuticals (NASDAQ:KALA) last released its quarterly earnings data on Thursday, August 9th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.10). On average, equities research analysts expect that Kala Pharmaceuticals will post -2.25 EPS for the current fiscal year.

In related news, Director Ra Capital Healthcare Fund Lp purchased 2,424,242 shares of the company’s stock in a transaction on Wednesday, October 3rd. The stock was bought at an average price of $8.25 per share, with a total value of $19,999,996.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory Grunberg purchased 606,060 shares of the company’s stock in a transaction on Friday, October 5th. The shares were bought 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. Company insiders own 35.58% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC purchased a new position in Kala Pharmaceuticals during the first quarter worth $119,000. Rhumbline Advisers purchased a new position in Kala Pharmaceuticals during the second quarter worth $148,000. Paloma Partners Management Co purchased a new position in Kala Pharmaceuticals during the second quarter worth $152,000. The Manufacturers Life Insurance Company increased its position in Kala Pharmaceuticals by 489.8% during the first quarter. The Manufacturers Life Insurance Company now owns 11,778 shares of the company’s stock worth $186,000 after buying an additional 9,781 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in Kala Pharmaceuticals by 94.7% during the first quarter. New York State Common Retirement Fund now owns 14,600 shares of the company’s stock worth $231,000 after buying an additional 7,100 shares in the last quarter. 53.62% of the stock is owned by institutional investors.

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. 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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