Kala Pharmaceuticals Inc to Post FY2022 Earnings of $3.66 Per Share, Wedbush Forecasts (NASDAQ:KALA)

Kala Pharmaceuticals Inc (NASDAQ:KALA) – Equities researchers at Wedbush decreased their FY2022 EPS estimates for shares of Kala Pharmaceuticals in a research report issued to clients and investors on Wednesday, August 14th. Wedbush analyst L. Moussatos now anticipates that the company will earn $3.66 per share for the year, down from their prior estimate of $4.05. Wedbush has a “Outperform” rating and a $51.00 price objective on the stock. Wedbush also issued estimates for Kala Pharmaceuticals’ FY2023 earnings at $9.22 EPS.

Kala Pharmaceuticals (NASDAQ:KALA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.74) by $0.04. The firm had revenue of $2.06 million for the quarter, compared to analyst estimates of $2.62 million.

Other research analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Kala Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Oppenheimer set a $9.00 target price on shares of Kala Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, August 7th. HC Wainwright lowered their target price on shares of Kala Pharmaceuticals from $15.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Zacks Investment Research cut shares of Kala Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Kala Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $18.54.

NASDAQ KALA opened at $4.00 on Thursday. The firm has a 50 day moving average of $5.70 and a two-hundred day moving average of $6.74. Kala Pharmaceuticals has a 52 week low of $3.92 and a 52 week high of $14.45. The company has a quick ratio of 7.04, a current ratio of 7.50 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $136.04 million, a PE ratio of -1.61 and a beta of 2.02.

In related news, Director Howard B. Rosen bought 5,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was acquired 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 30.77% of the company’s stock.

Large investors have recently modified their holdings of the stock. Bank of Montreal Can boosted its stake in Kala Pharmaceuticals by 148.5% during the 2nd quarter. Bank of Montreal Can now owns 4,014 shares of the company’s stock worth $26,000 after purchasing an additional 2,399 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Kala Pharmaceuticals by 877.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,410 shares of the company’s stock worth $28,000 after purchasing an additional 3,061 shares during the period. Patriot Financial Group Insurance Agency LLC acquired a new stake in Kala Pharmaceuticals during the 1st quarter worth $46,000. Greenwich Wealth Management LLC boosted its stake in Kala Pharmaceuticals by 28.7% during the 2nd quarter. Greenwich Wealth Management LLC now owns 13,000 shares of the company’s stock worth $83,000 after purchasing an additional 2,900 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in Kala Pharmaceuticals by 12.4% during the 4th quarter. Squarepoint Ops LLC now owns 27,871 shares of the company’s stock worth $136,000 after purchasing an additional 3,071 shares during the period. Hedge funds and other institutional investors own 69.67% of the company’s stock.

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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Earnings History and Estimates for Kala Pharmaceuticals (NASDAQ:KALA)

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