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

Zacks Investment Research downgraded shares of Kala Pharmaceuticals (NASDAQ:KALA) from a buy rating to a hold rating in a research report sent 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 analysts also recently weighed in on KALA. Wedbush set a $51.00 target price on shares of Kala Pharmaceuticals and gave the stock a buy rating in a research report on Friday, July 5th. BidaskClub downgraded shares of Zogenix from a hold rating to a sell rating in a research report on Tuesday, April 16th. Finally, Oppenheimer initiated coverage on shares of Kala Pharmaceuticals in a research report on Wednesday, April 24th. They issued an outperform rating and a $11.00 target price on the stock. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $19.43.

NASDAQ:KALA opened at $5.57 on Wednesday. The stock has a 50-day simple moving average of $5.80. The company has a current ratio of 10.30, a quick ratio of 9.93 and a debt-to-equity ratio of 0.86. Kala Pharmaceuticals has a 1-year low of $4.03 and a 1-year high of $14.45.

Kala Pharmaceuticals (NASDAQ:KALA) last released its 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 business had revenue of $1.39 million during the quarter, compared to analysts’ expectations of $0.96 million. On average, analysts forecast that Kala Pharmaceuticals will post -2.86 EPS for the current fiscal year.

In other news, Director Howard B. Rosen acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were bought at an average cost of $5.42 per share, with a total value of $27,100.00. Following the transaction, the director now owns 8,240 shares of the company’s stock, valued at approximately $44,660.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 30.77% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA grew its position in Kala Pharmaceuticals by 877.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,410 shares of the company’s stock valued at $28,000 after purchasing an additional 3,061 shares during the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new stake in Kala Pharmaceuticals during the 1st quarter valued at about $46,000. American International Group Inc. grew its position in Kala Pharmaceuticals by 34.3% during the 4th quarter. American International Group Inc. now owns 10,369 shares of the company’s stock valued at $51,000 after purchasing an additional 2,646 shares during the last quarter. Rhumbline Advisers purchased a new stake in Kala Pharmaceuticals during the 4th quarter valued at about $75,000. Finally, Boston Partners purchased a new stake in Kala Pharmaceuticals during the 1st quarter valued at about $152,000. 69.92% of the stock is currently owned by 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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