Investors Buy High Volume of Put Options on Kala Pharmaceuticals (KALA)

Kala Pharmaceuticals Inc (NASDAQ:KALA) was the recipient of some unusual options trading activity on Thursday. Traders purchased 2,000 put options on the company. This is an increase of approximately 1,823% compared to the average daily volume of 104 put options.

A number of analysts have issued reports on KALA shares. Zacks Investment Research downgraded shares of Kala Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. BidaskClub raised shares of Kala Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, February 20th. Oppenheimer started coverage on shares of Kala Pharmaceuticals in a report on Wednesday, April 24th. They issued an “outperform” rating and a $11.00 price objective for the company. Finally, Jefferies Financial Group started coverage on shares of Kala Pharmaceuticals in a report on Thursday, March 14th. They issued a “buy” rating and a $15.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $19.21.

Shares of Kala Pharmaceuticals stock opened at $5.96 on Friday. Kala Pharmaceuticals has a 1-year low of $4.03 and a 1-year high of $17.09. The company has a quick ratio of 10.17, a current ratio of 10.30 and a debt-to-equity ratio of 0.86. The company has a market cap of $201.94 million, a PE ratio of -2.40 and a beta of 1.64.

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, hitting the Zacks’ consensus estimate of ($0.75). The firm had revenue of $1.39 million for the quarter, compared to the consensus estimate of $0.96 million. On average, research analysts forecast that Kala Pharmaceuticals will post -2.82 earnings per share for the current year.

Several institutional investors have recently modified their holdings of KALA. RA Capital Management LLC lifted its holdings in shares of Kala Pharmaceuticals by 114.7% during the 4th quarter. RA Capital Management LLC now owns 4,537,478 shares of the company’s stock worth $22,188,000 after acquiring an additional 2,424,242 shares during the period. Athyrium Capital Management LP bought a new stake in shares of Kala Pharmaceuticals during the 4th quarter worth approximately $6,520,000. Sofinnova Investments Inc. lifted its holdings in shares of Kala Pharmaceuticals by 365.8% during the 4th quarter. Sofinnova Investments Inc. now owns 445,516 shares of the company’s stock worth $2,178,000 after acquiring an additional 349,861 shares during the period. BlackRock Inc. lifted its holdings in shares of Kala Pharmaceuticals by 29.2% during the 4th quarter. BlackRock Inc. now owns 1,427,672 shares of the company’s stock worth $6,980,000 after acquiring an additional 322,311 shares during the period. Finally, Fosun International Ltd bought a new stake in shares of Kala Pharmaceuticals during the 4th quarter worth approximately $1,208,000. 67.92% of the stock is owned by institutional investors.

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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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