Zacks Investment Research Downgrades Kala Pharmaceuticals (KALA) to Sell

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Zacks Investment Research lowered shares of Kala Pharmaceuticals (NASDAQ:KALA) from a hold rating to a sell rating in a report published on Tuesday, 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 analysts have also issued research reports about the stock. Jefferies Financial Group initiated coverage on shares of Kala Pharmaceuticals in a report on Thursday, March 14th. They set a buy rating and a $15.00 target price for the company. BidaskClub raised shares of Kala Pharmaceuticals from a hold rating to a buy rating in a report on Wednesday, February 20th. Wedbush set a $51.00 target price on shares of Kala Pharmaceuticals and gave the stock a buy rating in a report on Wednesday, January 16th. Finally, Oppenheimer initiated coverage on shares of Kala Pharmaceuticals in a report on Wednesday, April 24th. They set an outperform rating and a $11.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $19.21.

Shares of Kala Pharmaceuticals stock traded down $0.27 during midday trading on Tuesday, reaching $5.96. The company had a trading volume of 1,269 shares, compared to its average volume of 165,317. The company has a debt-to-equity ratio of 0.86, a current ratio of 10.30 and a quick ratio of 10.17. The firm has a market cap of $211.07 million, a P/E ratio of -2.42 and a beta of 1.64. Kala Pharmaceuticals has a 1-year low of $4.03 and a 1-year high of $17.09.

Kala Pharmaceuticals (NASDAQ:KALA) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.75) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.75). The company had revenue of $1.39 million during the quarter, compared to analyst estimates of $0.96 million. On average, sell-side analysts expect that Kala Pharmaceuticals will post -2.82 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KALA. Ladenburg Thalmann Financial Services Inc. bought a new position in Kala Pharmaceuticals in the 1st quarter valued at approximately $41,000. Wellington Management Group LLP lifted its stake in Kala Pharmaceuticals by 1.9% in the 1st quarter. Wellington Management Group LLP now owns 1,555,177 shares of the company’s stock valued at $12,860,000 after purchasing an additional 29,534 shares during the last quarter. Marshall Wace LLP bought a new position in Kala Pharmaceuticals in the 1st quarter valued at approximately $325,000. State of Wisconsin Investment Board lifted its stake in Kala Pharmaceuticals by 30.0% in the 1st quarter. State of Wisconsin Investment Board now owns 15,600 shares of the company’s stock valued at $129,000 after purchasing an additional 3,600 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Kala Pharmaceuticals by 11.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 286,184 shares of the company’s stock valued at $2,367,000 after purchasing an additional 30,424 shares during the last quarter. 67.92% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Kala Pharmaceuticals (NASDAQ:KALA)

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