Insider Buying: Kala Pharmaceuticals Inc (KALA) Major Shareholder Purchases 170,338 Shares of Stock

Kala Pharmaceuticals Inc (NASDAQ:KALA) major shareholder Orbimed Advisors Llc purchased 170,338 shares of the stock in a transaction dated Wednesday, January 10th. The shares were purchased at an average price of $12.83 per share, with a total value of $2,185,436.54. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Orbimed Advisors Llc also recently made the following trade(s):

  • On Friday, January 12th, Orbimed Advisors Llc purchased 240,484 shares of Kala Pharmaceuticals stock. The shares were purchased at an average price of $13.28 per share, with a total value of $3,193,627.52.

Shares of Kala Pharmaceuticals Inc (NASDAQ KALA) traded up $1.75 on Friday, reaching $15.60. 386,757 shares of the company were exchanged, compared to its average volume of 389,052. The company has a market cap of $377.94 and a price-to-earnings ratio of -8.57. The company has a quick ratio of 11.00, a current ratio of 11.00 and a debt-to-equity ratio of 0.14. Kala Pharmaceuticals Inc has a 12-month low of $11.81 and a 12-month high of $26.75.

Kala Pharmaceuticals (NASDAQ:KALA) last announced its earnings results on Tuesday, November 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.14). research analysts anticipate that Kala Pharmaceuticals Inc will post -2.22 earnings per share for the current fiscal year.

KALA has been the subject of several recent research reports. Wells Fargo & Co restated a “buy” rating on shares of Kala Pharmaceuticals in a research report on Friday, January 5th. Wedbush restated a “buy” rating and set a $46.00 price target on shares of Kala Pharmaceuticals in a research report on Thursday, November 30th. JPMorgan Chase & Co. set a $35.00 price target on shares of Kala Pharmaceuticals and gave the stock a “buy” rating in a research report on Sunday, November 19th. BidaskClub upgraded shares of Kala Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, December 29th. Finally, Zacks Investment Research lowered shares of Kala Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $36.80.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky bought a new position in Kala Pharmaceuticals in the 3rd quarter valued at about $105,000. American International Group Inc. bought a new position in Kala Pharmaceuticals in the 3rd quarter valued at about $122,000. Susquehanna International Group LLP bought a new position in Kala Pharmaceuticals in the 3rd quarter valued at about $222,000. Cubist Systematic Strategies LLC bought a new position in Kala Pharmaceuticals in the 3rd quarter valued at about $228,000. Finally, California State Teachers Retirement System bought a new position in Kala Pharmaceuticals in the 3rd quarter valued at about $301,000. Hedge funds and other institutional investors own 62.96% of the company’s stock.

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Kala Pharmaceuticals Company Profile

Kala Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapeutics through its nanoparticle-based Mucus Penetrating Particles, or MPP, technology. The Company’s initial focus is on the treatment of eye diseases. The Company’s product candidate includes KPI-121 1%, KPI-121 0.25% and MPP rTKI Program.

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