Zacks Investment Research upgraded shares of Kala Pharmaceuticals (NASDAQ:KALA) from a sell rating to a hold rating in a report issued on Wednesday morning.
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 also recently issued research reports about the stock. BidaskClub raised shares of Kala Pharmaceuticals from a strong sell rating to a sell rating in a report on Friday, December 29th. Wedbush reaffirmed an outperform rating and issued a $46.00 price objective on shares of Kala Pharmaceuticals in a report on Friday, December 22nd. Finally, Wells Fargo reaffirmed a buy rating on shares of Kala Pharmaceuticals in a report on Friday, January 5th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $35.80.
Kala Pharmaceuticals (NASDAQ:KALA) last released its quarterly earnings results on Monday, March 26th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.09). equities analysts forecast that Kala Pharmaceuticals will post -1.98 EPS for the current fiscal year.
In other Kala Pharmaceuticals news, major shareholder Orbimed Advisors Llc acquired 170,338 shares of the firm’s stock in a transaction on Wednesday, January 10th. The stock was purchased at an average price of $12.83 per share, with a total value of $2,185,436.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders acquired 1,108,150 shares of company stock valued at $15,772,394.
A number of institutional investors have recently added to or reduced their stakes in the business. American International Group Inc. acquired a new position in Kala Pharmaceuticals in the third quarter worth $122,000. Teachers Advisors LLC boosted its holdings in Kala Pharmaceuticals by 44.6% in the fourth quarter. Teachers Advisors LLC now owns 21,006 shares of the company’s stock worth $388,000 after purchasing an additional 6,478 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in Kala Pharmaceuticals by 48.4% in the fourth quarter. TIAA CREF Investment Management LLC now owns 28,340 shares of the company’s stock worth $524,000 after purchasing an additional 9,247 shares during the period. Susquehanna International Group LLP acquired a new position in Kala Pharmaceuticals in the third quarter worth $222,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Kala Pharmaceuticals in the third quarter worth $228,000. 72.39% of the stock is owned by hedge funds and other institutional investors.
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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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