Zacks Investment Research lowered shares of Kala Pharmaceuticals (NASDAQ:KALA) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Kala Pharmaceuticals, Inc. is a biopharmaceutical company. It focused on the development and commercialization of therapeutics through its nanoparticle-based Mucus Penetrating Particles technology. The Company designs proprietary drug delivery technology to penetrate mucosal tissue such as the eyes, lungs, gastrointestinal tracts and the female reproductive systems. Kala Pharmaceuticals, Inc. is based in Waltham, United States. “

Other equities analysts have also recently issued research reports about the company. Wedbush set a $51.00 price target on Kala Pharmaceuticals and gave the company a buy rating in a report on Friday, July 5th. BidaskClub cut Zogenix from a hold rating to a sell rating in a report on Tuesday, April 16th. Finally, Oppenheimer assumed coverage on Kala Pharmaceuticals in a report on Wednesday, April 24th. They issued an outperform rating and a $11.00 price target on the stock. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of Buy and an average target price of $19.43.

Shares of KALA stock opened at $5.57 on Wednesday. The business’s fifty day simple moving average is $5.80. The company has a quick ratio of 9.93, a current ratio of 10.30 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $194.15 million, a PE ratio of -2.25 and a beta of 2.02. Kala Pharmaceuticals has a 52 week low of $4.03 and a 52 week high of $14.45.

Kala Pharmaceuticals (NASDAQ:KALA) last announced its earnings results on Thursday, May 9th. The company reported ($0.75) EPS for the quarter, hitting the consensus estimate of ($0.75). The business had revenue of $1.39 million for the quarter, compared to the consensus estimate of $0.96 million. Equities research analysts forecast that Kala Pharmaceuticals will post -2.86 earnings per share for the current year.

In other news, Director Howard B. Rosen purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were acquired at an average price of $5.42 per share, for a total transaction of $27,100.00. Following the completion of the acquisition, the director now directly owns 8,240 shares in the company, valued at $44,660.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 30.77% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. American International Group Inc. boosted its holdings in Kala Pharmaceuticals by 34.3% in the fourth quarter. American International Group Inc. now owns 10,369 shares of the company’s stock valued at $51,000 after acquiring an additional 2,646 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Kala Pharmaceuticals by 877.1% in the first quarter. BNP Paribas Arbitrage SA now owns 3,410 shares of the company’s stock valued at $28,000 after buying an additional 3,061 shares during the period. Squarepoint Ops LLC lifted its stake in Kala Pharmaceuticals by 12.4% in the fourth quarter. Squarepoint Ops LLC now owns 27,871 shares of the company’s stock valued at $136,000 after buying an additional 3,071 shares during the period. Rhumbline Advisers lifted its stake in Kala Pharmaceuticals by 27.4% in the first quarter. Rhumbline Advisers now owns 19,430 shares of the company’s stock valued at $161,000 after buying an additional 4,174 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC acquired a new position in Kala Pharmaceuticals in the first quarter valued at about $46,000. Institutional investors and hedge funds own 69.92% 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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