Kala Pharmaceuticals (KALA) Downgraded by BidaskClub to “Sell”

Kala Pharmaceuticals (NASDAQ:KALA) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Other research analysts also recently issued research reports about the company. Wells Fargo & Co reiterated an “outperform” rating and set a $19.00 target price (down previously from $24.00) on shares of Kala Pharmaceuticals in a report on Thursday, January 25th. They noted that the move was a valuation call. Wedbush reissued a “buy” rating and issued 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 Kala Pharmaceuticals and gave the stock a “buy” rating in a research report on Sunday, November 19th. Finally, Zacks Investment Research cut Kala Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. Kala Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $35.80.

Kala Pharmaceuticals (KALA) traded down $0.47 during mid-day trading on Thursday, hitting $12.47. The company’s stock had a trading volume of 404,035 shares, compared to its average volume of 517,335. Kala Pharmaceuticals has a 1 year low of $11.81 and a 1 year 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. The stock has a market cap of $302.11 and a P/E ratio of -6.85.

In related news, major shareholder Orbimed Advisors Llc purchased 170,338 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were purchased at an average cost of $12.83 per share, with a total value of $2,185,436.54. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders bought 1,083,150 shares of company stock worth $15,449,144.

A number of hedge funds have recently added to or reduced their stakes in KALA. Teachers Retirement System of The State of Kentucky bought a new position in Kala Pharmaceuticals in the 3rd quarter valued at approximately $105,000. American International Group Inc. bought a new position in Kala Pharmaceuticals in the 3rd quarter valued at approximately $122,000. Susquehanna International Group LLP bought a new position in Kala Pharmaceuticals in the 3rd quarter valued at approximately $222,000. Cubist Systematic Strategies LLC bought a new position in Kala Pharmaceuticals in the 3rd quarter valued at approximately $228,000. Finally, California State Teachers Retirement System bought a new position in Kala Pharmaceuticals in the 3rd quarter valued at approximately $301,000. 62.96% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Kala Pharmaceuticals (NASDAQ:KALA)

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