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.
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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