Zacks Investment Research upgraded shares of Kala Pharmaceuticals (NASDAQ:KALA) from a hold rating to a buy rating in a report issued on Thursday, Zacks.com reports. They currently have $7.00 price objective 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. “
Other analysts have also recently issued research reports about the stock. Wedbush set a $51.00 target price on shares of Kala Pharmaceuticals and gave the company a buy rating in a report on Friday, July 5th. Jefferies Financial Group restated a hold rating and set a $15.00 target price on shares of Newell Brands in a report on Thursday, March 14th. Oppenheimer began coverage on shares of Kala Pharmaceuticals in a report on Wednesday, April 24th. They set an outperform rating and a $11.00 target price on the stock. Finally, BidaskClub cut shares of Zogenix from a hold rating to a sell rating in a report on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Kala Pharmaceuticals currently has a consensus rating of Buy and a consensus price target of $19.43.
Kala Pharmaceuticals (NASDAQ:KALA) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.75) earnings per share for the quarter, meeting the consensus estimate of ($0.75). The company had revenue of $1.39 million during the quarter, compared to the consensus estimate of $0.96 million. As a group, analysts predict that Kala Pharmaceuticals will post -2.86 earnings per share for the current fiscal year.
In other Kala Pharmaceuticals news, Director Howard B. Rosen bought 5,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were purchased at an average price of $5.42 per share, for a total transaction of $27,100.00. Following the acquisition, the director now owns 8,240 shares in the company, valued at approximately $44,660.80. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 30.77% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. American International Group Inc. boosted its stake in Kala Pharmaceuticals by 34.3% in the 4th 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 in the last quarter. BlackRock Inc. boosted its stake in Kala Pharmaceuticals by 29.2% in the 4th 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 in the last quarter. Sofinnova Investments Inc. boosted its stake in Kala Pharmaceuticals by 365.8% in the 4th quarter. Sofinnova Investments Inc. now owns 445,516 shares of the company’s stock worth $2,178,000 after purchasing an additional 349,861 shares in the last quarter. Northern Trust Corp boosted its stake in Kala Pharmaceuticals by 44.3% in the 4th quarter. Northern Trust Corp now owns 188,995 shares of the company’s stock worth $925,000 after purchasing an additional 58,030 shares in the last quarter. Finally, Pura Vida Investments LLC bought a new position in Kala Pharmaceuticals in the 4th quarter worth about $1,056,000. Institutional investors own 69.92% of the company’s stock.
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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