Analysts forecast that Kala Pharmaceuticals Inc (NASDAQ:KALA) will announce earnings per share (EPS) of ($0.37) for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Kala Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.27) and the lowest estimate coming in at ($0.43). The business is expected to report its next quarterly earnings results on Tuesday, February 13th.
On average, analysts expect that Kala Pharmaceuticals will report full-year earnings of ($2.22) per share for the current year, with EPS estimates ranging from ($2.72) to ($1.95). For the next financial year, analysts expect that the business will report earnings of ($1.84) per share, with EPS estimates ranging from ($2.19) to ($1.32). Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Kala Pharmaceuticals.
KALA has been the topic of a number of research reports. BidaskClub upgraded shares of Kala Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, December 29th. Wedbush restated an “outperform” rating and set a $46.00 target price on shares of Kala Pharmaceuticals in a research report on Thursday, October 19th. JPMorgan Chase & Co. set a $35.00 target price on shares of Kala Pharmaceuticals and gave the company a “buy” rating in a research report on Sunday, November 19th. Wells Fargo & Co restated an “outperform” rating and set a $19.00 target price (down from $24.00) on shares of Kala Pharmaceuticals in a research report on Thursday, January 25th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of Kala Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $35.80.
In other news, major shareholder Orbimed Advisors Llc purchased 170,338 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The shares were acquired at an average cost of $12.83 per share, for a total transaction of $2,185,436.54. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders purchased a total of 1,083,150 shares of company stock worth $15,449,144 over the last quarter.
Large investors have recently made changes to their positions in the stock. Orbimed Advisors LLC acquired a new stake in shares of Kala Pharmaceuticals in the 3rd quarter valued at approximately $54,251,000. JPMorgan Chase & Co. acquired a new stake in shares of Kala Pharmaceuticals in the 3rd quarter valued at approximately $4,037,000. Bank of New York Mellon Corp acquired a new stake in shares of Kala Pharmaceuticals in the 3rd quarter valued at approximately $540,000. Crestline Management LP acquired a new stake in shares of Kala Pharmaceuticals in the 3rd quarter valued at approximately $888,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Kala Pharmaceuticals in the 3rd quarter valued at approximately $2,907,000. Institutional investors and hedge funds own 62.96% of the company’s stock.
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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