Kala Pharmaceuticals Inc (NASDAQ:KALA) – Research analysts at Jefferies Financial Group increased their FY2021 earnings per share estimates for shares of Kala Pharmaceuticals in a research note issued on Monday, September 14th. Jefferies Financial Group analyst B. Amin now expects that the company will post earnings per share of ($1.52) for the year, up from their prior estimate of ($1.56). Jefferies Financial Group currently has a “Hold” rating and a $10.00 price target on the stock. Jefferies Financial Group also issued estimates for Kala Pharmaceuticals’ FY2022 earnings at ($0.73) EPS, FY2023 earnings at $0.05 EPS and FY2024 earnings at $0.58 EPS.
KALA has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their target price on shares of Kala Pharmaceuticals from $14.00 to $19.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. HC Wainwright restated a “buy” rating and set a $17.00 target price (up previously from $14.00) on shares of Kala Pharmaceuticals in a research note on Wednesday, May 27th. Northland Securities restated a “buy” rating and set a $17.00 target price on shares of Kala Pharmaceuticals in a research note on Friday, August 7th. BidaskClub upgraded shares of Kala Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, September 11th. Finally, Oppenheimer assumed coverage on shares of Kala Pharmaceuticals in a research note on Friday, May 29th. They set an “outperform” rating and a $21.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $18.50.
KALA opened at $8.61 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 11.29 and a current ratio of 11.63. Kala Pharmaceuticals has a fifty-two week low of $3.24 and a fifty-two week high of $14.68. The firm’s fifty day moving average is $8.79 and its 200 day moving average is $9.81. The stock has a market cap of $482.68 million, a price-to-earnings ratio of -3.79 and a beta of 0.24.
Kala Pharmaceuticals (NASDAQ:KALA) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.42) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.42). Kala Pharmaceuticals had a negative net margin of 1,993.41% and a negative return on equity of 105.36%.
A number of hedge funds have recently made changes to their positions in the business. RA Capital Management L.P. increased its holdings in shares of 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 last quarter. Eventide Asset Management LLC bought a new stake in shares of Kala Pharmaceuticals in the 1st quarter worth about $25,956,000. Orbimed Advisors LLC increased its holdings in shares of 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 last quarter. FMR LLC increased its holdings in shares of Kala Pharmaceuticals by 64.1% in the 2nd quarter. FMR LLC now owns 4,678,383 shares of the company’s stock worth $49,169,000 after buying an additional 1,826,867 shares during the last quarter. Finally, Vivo Capital LLC bought a new stake in shares of Kala Pharmaceuticals in the 1st quarter worth about $6,917,000. Institutional investors and hedge funds own 76.50% 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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