Kala Pharmaceuticals (NASDAQ:KALA) Downgraded to “Hold” at Zacks Investment Research


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Zacks Investment Research lowered shares of Kala Pharmaceuticals (NASDAQ:KALA) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, 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. “

A number of other research analysts have also recently commented on the company. ValuEngine cut Kala Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, October 1st. BidaskClub upgraded Kala Pharmaceuticals from a strong sell rating to a sell rating in a report on Saturday, January 9th. Northland Securities reiterated a buy rating and issued a $17.00 price objective on shares of Kala Pharmaceuticals in a report on Monday, November 30th. Finally, Wedbush upped their price objective on Kala Pharmaceuticals from $39.00 to $47.00 and gave the company an outperform rating in a report on Wednesday, October 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of Buy and an average target price of $19.31.

Shares of Kala Pharmaceuticals stock opened at $7.50 on Wednesday. The stock has a market cap of $420.56 million, a P/E ratio of -3.59 and a beta of 0.46. The stock’s 50 day simple moving average is $7.38 and its 200-day simple moving average is $8.32. Kala Pharmaceuticals has a 1-year low of $5.04 and a 1-year high of $14.68. The company has a debt-to-equity ratio of 0.68, a current ratio of 9.11 and a quick ratio of 8.73.

Kala Pharmaceuticals (NASDAQ:KALA) last released its quarterly earnings data on Thursday, November 5th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.06). Kala Pharmaceuticals had a negative net margin of 1,794.36% and a negative return on equity of 93.73%. The business had revenue of $2.22 million during the quarter, compared to analyst estimates of $2.02 million. As a group, research analysts expect that Kala Pharmaceuticals will post -1.88 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Kala Pharmaceuticals during the third quarter worth $368,000. Old Well Partners LLC purchased a new stake in shares of Kala Pharmaceuticals during the third quarter worth $96,000. Samsara BioCapital LLC increased its position in shares of Kala Pharmaceuticals by 33.0% during the third quarter. Samsara BioCapital LLC now owns 451,162 shares of the company’s stock worth $3,384,000 after acquiring an additional 112,060 shares during the period. JS Capital Management LLC purchased a new stake in shares of Kala Pharmaceuticals during the third quarter worth $80,000. Finally, AQR Capital Management LLC increased its position in shares of Kala Pharmaceuticals by 62.2% during the third quarter. AQR Capital Management LLC now owns 33,767 shares of the company’s stock worth $253,000 after acquiring an additional 12,955 shares during the period. 72.61% of the stock is currently owned by institutional investors and hedge funds.

About Kala Pharmaceuticals

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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