BidaskClub Downgrades Kala Pharmaceuticals (KALA) to Strong Sell

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

Several other analysts have also recently issued reports on KALA. Zacks Investment Research raised shares of Kala Pharmaceuticals from a “hold” rating to a “buy” rating and set a $9.25 price target on the stock in a research report on Thursday, October 11th. HC Wainwright set a $32.00 price target on shares of Kala Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, October 17th. Wedbush set a $51.00 price target on shares of Kala Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, October 16th. Finally, Wells Fargo & Co reissued a “buy” rating and set a $15.00 price target (down previously from $19.00) on shares of Kala Pharmaceuticals in a research report on Thursday, October 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Kala Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $28.45.

Shares of KALA stock opened at $7.93 on Friday. The company has a quick ratio of 9.79, a current ratio of 9.79 and a debt-to-equity ratio of 0.27. The stock has a market cap of $298.42 million, a price-to-earnings ratio of -1.36 and a beta of -1.12. Kala Pharmaceuticals has a 1-year low of $7.60 and a 1-year high of $22.10.



Kala Pharmaceuticals (NASDAQ:KALA) last announced its earnings results on Thursday, August 9th. The company reported ($0.60) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.10). Equities research analysts anticipate that Kala Pharmaceuticals will post -2.25 earnings per share for the current fiscal year.

In other news, Director Ra Capital Healthcare Fund Lp bought 2,424,242 shares of Kala Pharmaceuticals stock in a transaction that occurred on Wednesday, October 3rd. The shares were purchased at an average price of $8.25 per share, with a total value of $19,999,996.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory Grunberg bought 606,060 shares of Kala Pharmaceuticals stock in a transaction that occurred on Friday, October 5th. The stock was purchased at an average cost of $8.25 per share, for a total transaction of $4,999,995.00. The disclosure for this purchase can be found here. 35.58% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. New York State Common Retirement Fund raised its holdings in Kala Pharmaceuticals by 94.7% in the first quarter. New York State Common Retirement Fund now owns 14,600 shares of the company’s stock valued at $231,000 after acquiring an additional 7,100 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in Kala Pharmaceuticals in the first quarter valued at approximately $119,000. Bank of New York Mellon Corp raised its holdings in Kala Pharmaceuticals by 23.2% in the second quarter. Bank of New York Mellon Corp now owns 41,327 shares of the company’s stock valued at $568,000 after acquiring an additional 7,784 shares in the last quarter. Alps Advisors Inc. raised its holdings in Kala Pharmaceuticals by 22.1% in the third quarter. Alps Advisors Inc. now owns 43,518 shares of the company’s stock valued at $430,000 after acquiring an additional 7,874 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in Kala Pharmaceuticals by 71.5% in the first quarter. California State Teachers Retirement System now owns 21,726 shares of the company’s stock valued at $344,000 after acquiring an additional 9,055 shares in the last quarter. 53.61% of the stock is currently owned by hedge funds and other institutional investors.

Kala Pharmaceuticals Company Profile

Kala Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapies using its proprietary nanoparticle-based Mucus Penetrating Particles (MPP) technology for the treatment of eye diseases. Its product candidates include KPI-121 1.0%, which has completed Phase III clinical trials for the treatment of inflammation and pain following ocular surgery; INVELTYS that has completed Phase III clinical trials for the temporary relief of the signs and symptoms of dry eye disease; and KPI-285, a MPP receptor tyrosine kinase inhibitor program, which is in preclinical studies for the treatment of retinal diseases.

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