Kala Pharmaceuticals (KALA) Cut to “Strong Sell” at BidaskClub

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

Several other analysts have also recently commented on the stock. HC Wainwright set a $37.00 target price on shares of Kala Pharmaceuticals and gave the stock a buy rating in a research note on Monday. Wedbush set a $51.00 target price on shares of Kala Pharmaceuticals and gave the stock a buy rating in a research note on Sunday, August 26th. Wells Fargo & Co restated a buy rating on shares of Kala Pharmaceuticals in a research note on Thursday, August 23rd. Finally, Zacks Investment Research cut shares of Kala Pharmaceuticals from a buy rating to a sell rating in a research note on Wednesday, August 15th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $31.20.

Shares of NASDAQ:KALA opened at $11.29 on Tuesday. 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 has a 1-year low of $10.61 and a 1-year high of $26.75.

Kala Pharmaceuticals (NASDAQ:KALA) last issued its quarterly earnings results on Thursday, August 9th. The company reported ($0.60) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.10). equities analysts forecast that Kala Pharmaceuticals will post -2.19 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in shares of Kala Pharmaceuticals by 23.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 41,327 shares of the company’s stock worth $568,000 after acquiring an additional 7,784 shares during the period. Paloma Partners Management Co acquired a new stake in shares of Kala Pharmaceuticals in the 2nd quarter worth $152,000. Rhumbline Advisers acquired a new stake in shares of Kala Pharmaceuticals in the 2nd quarter worth $148,000. Wedbush Securities Inc. lifted its stake in shares of Kala Pharmaceuticals by 81.6% in the 2nd quarter. Wedbush Securities Inc. now owns 56,420 shares of the company’s stock worth $775,000 after acquiring an additional 25,350 shares during the period. Finally, Alps Advisors Inc. acquired a new stake in shares of Kala Pharmaceuticals in the second quarter valued at about $489,000. Institutional investors own 72.19% 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. 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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