Kala Pharmaceuticals (NASDAQ:KALA) was downgraded by Zacks Investment Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Thursday, 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. "
Several other research firms have also weighed in on KALA. JPMorgan Chase & Co. boosted their target price on Kala Pharmaceuticals from $14.00 to $19.00 and gave the stock an "overweight" rating in a report on Wednesday, May 27th. HC Wainwright restated a "buy" rating and issued a $17.00 target price (up from $14.00) on shares of Kala Pharmaceuticals in a report on Wednesday, May 27th. Oppenheimer began coverage on Kala Pharmaceuticals in a report on Friday, May 29th. They issued an "outperform" rating and a $21.00 target price for the company. Wedbush restated a "buy" rating and issued a $39.00 target price on shares of Kala Pharmaceuticals in a report on Sunday, June 14th. Finally, BidaskClub lowered Kala Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Friday, July 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of "Buy" and an average price target of $20.83.
Shares of Kala Pharmaceuticals stock opened at $10.64 on Thursday. The firm has a market cap of $574.65 million, a price-to-earnings ratio of -4.17 and a beta of 0.34. The company has a debt-to-equity ratio of 0.50, a current ratio of 12.17 and a quick ratio of 11.87. Kala Pharmaceuticals has a 52-week low of $3.24 and a 52-week high of $14.68. The stock has a 50-day simple moving average of $12.31 and a 200-day simple moving average of $8.55.
Kala Pharmaceuticals (NASDAQ:KALA) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of ($0.51) by ($0.03). The firm had revenue of $1.07 million for the quarter, compared to analyst estimates of $2.49 million. Kala Pharmaceuticals had a negative net margin of 1,578.64% and a negative return on equity of 132.08%. As a group, equities research analysts predict that Kala Pharmaceuticals will post -1.77 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of KALA. RA Capital Management L.P. increased its position in Kala Pharmaceuticals by 139.7% in the 1st quarter. RA Capital Management L.P. now owns 10,874,613 shares of the company's stock worth $95,588,000 after buying an additional 6,337,135 shares during the period. Eventide Asset Management LLC bought a new position in Kala Pharmaceuticals in the 1st quarter worth approximately $25,956,000. Orbimed Advisors LLC increased its position in Kala Pharmaceuticals by 56.7% in the 1st quarter. Orbimed Advisors LLC now owns 5,402,730 shares of the company's stock worth $47,490,000 after buying an additional 1,954,890 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in Kala Pharmaceuticals in the 4th quarter worth approximately $5,170,000. Finally, Vivo Capital LLC bought a new position in Kala Pharmaceuticals in the 1st quarter worth approximately $6,917,000. 73.60% of the stock is currently owned by institutional investors.
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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