Kala Pharmaceuticals (KALA) Shares Down 3.1%
Kala Pharmaceuticals Inc (NASDAQ:KALA) dropped 3.1% on Wednesday . The stock traded as low as $12.04 and last traded at $12.64. Approximately 249,459 shares traded hands during trading, a decline of 54% from the average daily volume of 544,162 shares. The stock had previously closed at $12.26.
A number of brokerages have recently weighed in on KALA. Zacks Investment Research cut shares of Kala Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Wedbush reaffirmed an “outperform” rating and issued a $46.00 price target on shares of Kala Pharmaceuticals in a research note on Thursday, October 19th. JPMorgan Chase & Co. set a $35.00 price target on shares of Kala Pharmaceuticals and gave the stock a “buy” rating in a research note on Sunday, November 19th. BidaskClub raised shares of Kala Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, December 29th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Kala Pharmaceuticals in a research note on Friday, January 5th. Two analysts have rated the stock with a sell rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $35.80.
The company has a current ratio of 11.00, a quick ratio of 11.00 and a debt-to-equity ratio of 0.14.
In other news, major shareholder Orbimed Advisors Llc acquired 362,240 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was acquired at an average cost of $15.00 per share, with a total value of $5,433,600.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have purchased 1,083,150 shares of company stock valued at $15,449,144.
Several hedge funds and other institutional investors have recently bought and sold shares of KALA. Orbimed Advisors LLC acquired a new stake in shares of Kala Pharmaceuticals in the third quarter valued at approximately $54,251,000. Victory Capital Management Inc. increased its stake in shares of Kala Pharmaceuticals by 4.6% in the fourth quarter. Victory Capital Management Inc. now owns 568,635 shares of the company’s stock valued at $10,514,000 after buying an additional 25,110 shares during the period. Caxton Corp acquired a new position in shares of Kala Pharmaceuticals in the third quarter valued at approximately $12,430,000. Wells Fargo & Company MN increased its stake in shares of Kala Pharmaceuticals by 74.5% in the fourth quarter. Wells Fargo & Company MN now owns 286,694 shares of the company’s stock valued at $5,301,000 after buying an additional 122,425 shares during the period. Finally, OxFORD Asset Management LLP acquired a new position in shares of Kala Pharmaceuticals in the third quarter valued at approximately $4,374,000. 62.96% of the stock is owned by institutional investors and hedge funds.
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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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