Wedbush Comments on Kala Pharmaceuticals Inc’s FY2020 Earnings (KALA)
Kala Pharmaceuticals Inc (NASDAQ:KALA) – Wedbush cut their FY2020 earnings per share (EPS) estimates for Kala Pharmaceuticals in a report issued on Tuesday. Wedbush analyst L. Moussatos now forecasts that the company will post earnings of $2.73 per share for the year, down from their prior estimate of $2.78. Wedbush currently has a “Buy” rating and a $46.00 target price on the stock. Wedbush also issued estimates for Kala Pharmaceuticals’ FY2021 earnings at $8.87 EPS.
Kala Pharmaceuticals (NASDAQ:KALA) last issued its quarterly earnings data 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).
Shares of Kala Pharmaceuticals (NASDAQ KALA) traded down $0.67 during mid-day trading on Wednesday, reaching $17.53. 80,536 shares of the company’s stock were exchanged, compared to its average volume of 189,090. Kala Pharmaceuticals has a twelve month low of $13.51 and a twelve month high of $26.75. The company has a quick ratio of 11.00, a current ratio of 11.00 and a debt-to-equity ratio of 0.14.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Kala Pharmaceuticals during the 3rd quarter valued at approximately $105,000. American International Group Inc. purchased a new stake in shares of Kala Pharmaceuticals during the 3rd quarter valued at approximately $122,000. Susquehanna International Group LLP purchased a new stake in shares of Kala Pharmaceuticals during the 3rd quarter valued at approximately $222,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Kala Pharmaceuticals during the 3rd quarter valued at approximately $228,000. Finally, California State Teachers Retirement System purchased a new stake in shares of Kala Pharmaceuticals during the 3rd quarter valued at approximately $301,000. Hedge funds and other institutional investors own 62.96% of the company’s stock.
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About Kala Pharmaceuticals
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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