Kala Pharmaceuticals (NASDAQ:KALA) Raised to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Kala Pharmaceuticals (NASDAQ:KALA) from a hold rating to a buy rating in a research note released on Saturday, Zacks.com reports. They currently have $6.75 price target on the stock.

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. “

Several other research firms have also recently commented on KALA. Oppenheimer began coverage on Kala Pharmaceuticals in a research report on Wednesday, April 24th. They set an outperform rating and a $11.00 target price for the company. BidaskClub cut Kala Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, April 16th. Wedbush set a $51.00 target price on Kala Pharmaceuticals and gave the stock a buy rating in a research report on Friday, July 5th. Finally, ValuEngine upgraded Kala Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $19.39.

Kala Pharmaceuticals stock opened at $5.05 on Friday. Kala Pharmaceuticals has a 52 week low of $4.03 and a 52 week high of $14.45. The business’s 50-day simple moving average is $5.91. The company has a debt-to-equity ratio of 0.86, a quick ratio of 9.93 and a current ratio of 10.30. The stock has a market capitalization of $196.50 million, a PE ratio of -2.04 and a beta of 2.02.

Kala Pharmaceuticals (NASDAQ:KALA) last posted its earnings results on Thursday, May 9th. The company reported ($0.75) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.75). The business had revenue of $1.39 million for the quarter, compared to analysts’ expectations of $0.96 million. Equities research analysts predict that Kala Pharmaceuticals will post -2.86 EPS for the current year.

In other news, Director Howard B. Rosen purchased 5,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was purchased at an average price of $5.42 per share, with a total value of $27,100.00. Following the completion of the purchase, the director now directly owns 8,240 shares in the company, valued at approximately $44,660.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 30.77% of the company’s stock.

Hedge funds have recently modified their holdings of the business. American International Group Inc. lifted its stake in Kala Pharmaceuticals by 34.3% during the fourth quarter. American International Group Inc. now owns 10,369 shares of the company’s stock worth $51,000 after purchasing an additional 2,646 shares during the last quarter. BlackRock Inc. lifted its stake in Kala Pharmaceuticals by 29.2% during the fourth quarter. BlackRock Inc. now owns 1,427,672 shares of the company’s stock worth $6,980,000 after purchasing an additional 322,311 shares during the last quarter. Northern Trust Corp lifted its stake in Kala Pharmaceuticals by 44.3% during the fourth quarter. Northern Trust Corp now owns 188,995 shares of the company’s stock worth $925,000 after purchasing an additional 58,030 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Kala Pharmaceuticals by 62.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 255,760 shares of the company’s stock worth $1,251,000 after purchasing an additional 98,591 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Kala Pharmaceuticals by 79.4% during the fourth quarter. Geode Capital Management LLC now owns 199,935 shares of the company’s stock worth $977,000 after purchasing an additional 88,484 shares during the last quarter. 69.92% 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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