Commonwealth Equity Services Inc bought a new stake in shares of Kala Pharmaceuticals Inc (NASDAQ:KALA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 15,804 shares of the company’s stock, valued at approximately $360,000. Commonwealth Equity Services Inc owned 0.07% of Kala Pharmaceuticals at the end of the most recent reporting period.
Separately, Bank of New York Mellon Corp purchased a new position in Kala Pharmaceuticals during the 3rd quarter valued at about $540,000. 62.96% of the stock is currently owned by institutional investors.
Shares of Kala Pharmaceuticals Inc (NASDAQ:KALA) opened at $18.90 on Friday. The company has a quick ratio of 11.00, a current ratio of 11.00 and a debt-to-equity ratio of 0.14. Kala Pharmaceuticals Inc has a 12-month low of $13.51 and a 12-month high of $26.75.
A number of equities analysts recently commented on KALA shares. Wedbush restated an “outperform” rating and set a $46.00 target price on shares of Kala Pharmaceuticals in a report on Thursday, October 19th. J P Morgan Chase & Co set a $35.00 target price on Kala Pharmaceuticals and gave the company a “buy” rating in a report on Sunday, November 19th. Zacks Investment Research cut Kala Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Oppenheimer started coverage on Kala Pharmaceuticals in a report on Tuesday, August 15th. They set an “outperform” rating and a $46.00 target price for the company. Finally, Wells Fargo & Company started coverage on Kala Pharmaceuticals in a report on Monday, August 14th. They set an “outperform” rating and a $24.00 target price for the company. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Kala Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $36.80.
About Kala Pharmaceuticals
Kala Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapeutics through its nanoparticle-based Mucus Penetrating Particles, or MPP, technology. The Company’s initial focus is on the treatment of eye diseases. The Company’s product candidate includes KPI-121 1%, KPI-121 0.25% and MPP rTKI Program.
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