Kala Pharmaceuticals Inc (NASDAQ:KALA) Director Howard B. Rosen purchased 5,000 shares of Kala Pharmaceuticals stock in a transaction dated Thursday, May 30th. The stock was bought at an average cost of $5.42 per share, with a total value of $27,100.00. Following the completion of the transaction, the director now owns 8,240 shares in the company, valued at approximately $44,660.80. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.
Kala Pharmaceuticals stock traded down $0.09 during midday trading on Wednesday, reaching $5.65. The company’s stock had a trading volume of 98,430 shares, compared to its average volume of 203,584. Kala Pharmaceuticals Inc has a fifty-two week low of $4.03 and a fifty-two week high of $14.45. The company has a current ratio of 10.30, a quick ratio of 9.93 and a debt-to-equity ratio of 0.86. The stock has a market cap of $192.44 million, a P/E ratio of -2.28 and a beta of 1.91. The stock’s 50-day moving average is $5.76.
Kala Pharmaceuticals (NASDAQ:KALA) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.75) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.75). The firm had revenue of $1.39 million for the quarter, compared to analysts’ expectations of $0.96 million. As a group, equities research analysts forecast that Kala Pharmaceuticals Inc will post -2.86 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. RA Capital Management LLC boosted its holdings in Kala Pharmaceuticals by 114.7% in the 4th quarter. RA Capital Management LLC now owns 4,537,478 shares of the company’s stock valued at $22,188,000 after purchasing an additional 2,424,242 shares in the last quarter. BlackRock Inc. lifted its position in shares of Kala Pharmaceuticals by 29.2% during the 4th quarter. BlackRock Inc. now owns 1,427,672 shares of the company’s stock valued at $6,980,000 after acquiring an additional 322,311 shares during the period. Athyrium Capital Management LP acquired a new stake in shares of Kala Pharmaceuticals during the 4th quarter valued at approximately $6,520,000. Vanguard Group Inc. lifted its position in shares of Kala Pharmaceuticals by 8.0% during the 3rd quarter. Vanguard Group Inc. now owns 510,295 shares of the company’s stock valued at $5,036,000 after acquiring an additional 37,738 shares during the period. Finally, Vanguard Group Inc lifted its position in shares of Kala Pharmaceuticals by 8.0% during the 3rd quarter. Vanguard Group Inc now owns 510,295 shares of the company’s stock valued at $5,036,000 after acquiring an additional 37,738 shares during the period. 69.92% of the stock is currently owned by institutional investors.
KALA has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on Kala Pharmaceuticals in a research report on Thursday, March 14th. They set a “buy” rating and a $15.00 price target for the company. BidaskClub upgraded Kala Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Wedbush set a $51.00 price objective on Kala Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, May 14th. Zacks Investment Research upgraded Kala Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, April 12th. Finally, Oppenheimer initiated coverage on Kala Pharmaceuticals in a research note on Wednesday, April 24th. They issued an “outperform” rating and a $11.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Kala Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $19.21.
About Kala Pharmaceuticals
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. The company's lead product candidate is KPI-121 0.25% which has completed two Phase III clinical trials for the treatment of temporary relief of the signs and symptoms of dry eye disease; INVELTYS which has completed two Phase III clinical trials for the treatment of inflammation and pain following ocular surgery; and KPI-285, a MPP receptor tyrosine kinase inhibitor program, which is in preclinical studies for the treatment of retinal diseases.
Further Reading: Liquidity
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