Kala Pharmaceuticals Inc (NASDAQ:KALA) was the recipient of a significant increase in short interest in November. As of November 30th, there was short interest totalling 801,394 shares, an increase of 34.1% from the November 15th total of 597,659 shares. Approximately 5.5% of the company’s stock are short sold. Based on an average daily volume of 131,429 shares, the short-interest ratio is currently 6.1 days.
Institutional investors and hedge funds have recently made changes to their positions in the business. Orbimed Advisors LLC acquired a new stake in Kala Pharmaceuticals in the third quarter valued at approximately $54,251,000. EAM Investors LLC acquired a new stake in Kala Pharmaceuticals in the third quarter valued at approximately $1,353,000. Victory Capital Management Inc. acquired a new stake in Kala Pharmaceuticals in the third quarter valued at approximately $12,414,000. Crestline Management LP acquired a new stake in Kala Pharmaceuticals in the third quarter valued at approximately $888,000. Finally, Commonwealth Equity Services Inc acquired a new stake in Kala Pharmaceuticals in the third quarter valued at approximately $360,000. Institutional investors own 62.96% of the company’s stock.
KALA has been the topic of a number of recent research reports. Wedbush reiterated a “buy” rating and set a $46.00 price objective on shares of Kala Pharmaceuticals in a research note on Thursday, November 30th. J P Morgan Chase & Co set a $35.00 price objective on shares of Kala Pharmaceuticals and gave the company a “buy” rating in a research note on Sunday, November 19th. Finally, Zacks Investment Research downgraded shares of Kala Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $36.80.
Kala Pharmaceuticals (NASDAQ:KALA) last released 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). equities analysts forecast that Kala Pharmaceuticals will post -2.22 earnings per share for the current year.
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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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