Kala Pharmaceuticals’ (KALA) Buy Rating Reiterated at Wells Fargo & Co
Kala Pharmaceuticals (NASDAQ:KALA)‘s stock had its “buy” rating reissued by Wells Fargo & Co in a report released on Friday.
Other research analysts have also issued reports about the company. BidaskClub upgraded Kala Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, December 29th. Wedbush restated a “buy” rating and issued a $46.00 target price on shares of Kala Pharmaceuticals in a research note on Thursday, November 30th. JPMorgan Chase & Co. set a $35.00 target price on Kala Pharmaceuticals and gave the company a “buy” rating in a research note on Sunday, November 19th. Finally, Zacks Investment Research lowered Kala Pharmaceuticals from a “hold” rating to a “sell” rating in a research note 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 stock currently has an average rating of “Hold” and a consensus target price of $36.80.
Kala Pharmaceuticals (NASDAQ KALA) traded down $0.34 on Friday, hitting $17.33. The stock had a trading volume of 150,500 shares, compared to its average volume of 261,033. Kala Pharmaceuticals has a 12 month low of $13.51 and a 12 month high of $26.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 11.00 and a quick ratio of 11.00.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Susquehanna International Group LLP acquired a new position in Kala Pharmaceuticals during the third quarter worth $222,000. Neuberger Berman Group LLC bought a new position in Kala Pharmaceuticals in the third quarter valued at about $1,142,000. Cubist Systematic Strategies LLC bought a new position in Kala Pharmaceuticals during the third quarter worth about $228,000. Crestline Management LP bought a new position in Kala Pharmaceuticals during the third quarter worth about $888,000. Finally, Orbimed Advisors LLC bought a new position in Kala Pharmaceuticals during the third quarter worth about $54,251,000. Institutional investors and hedge funds 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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