Kala Pharmaceuticals Inc (NASDAQ:KALA) – Stock analysts at Wedbush dropped their FY2022 EPS estimates for Kala Pharmaceuticals in a note issued to investors on Wednesday, August 14th. Wedbush analyst L. Moussatos now forecasts that the company will earn $3.66 per share for the year, down from their prior estimate of $4.05. Wedbush has a “Outperform” rating and a $51.00 price objective on the stock. Wedbush also issued estimates for Kala Pharmaceuticals’ FY2023 earnings at $9.22 EPS.
KALA has been the subject of a number of other reports. ValuEngine raised Kala Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. HC Wainwright decreased their target price on Kala Pharmaceuticals from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Zacks Investment Research cut Kala Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Oppenheimer set a $9.00 target price on Kala Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $18.54.
Kala Pharmaceuticals (NASDAQ:KALA) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.04. The company had revenue of $2.06 million for the quarter, compared to analyst estimates of $2.62 million.
In other Kala Pharmaceuticals news, Director Howard B. Rosen bought 5,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was purchased at an average cost of $5.42 per share, with a total value of $27,100.00. Following the completion of the purchase, the director now owns 8,240 shares in the company, valued at $44,660.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 30.77% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Kala Pharmaceuticals by 20.3% in the second quarter. BlackRock Inc. now owns 1,684,802 shares of the company’s stock valued at $10,749,000 after purchasing an additional 283,747 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Kala Pharmaceuticals by 25.1% in the second quarter. Vanguard Group Inc. now owns 1,237,683 shares of the company’s stock valued at $7,896,000 after purchasing an additional 248,287 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Kala Pharmaceuticals by 349.6% in the fourth quarter. Deutsche Bank AG now owns 268,054 shares of the company’s stock valued at $1,310,000 after purchasing an additional 208,436 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Kala Pharmaceuticals by 62.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 255,760 shares of the company’s stock valued at $1,251,000 after purchasing an additional 98,591 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Kala Pharmaceuticals by 79.4% in the fourth quarter. Geode Capital Management LLC now owns 199,935 shares of the company’s stock valued at $977,000 after purchasing an additional 88,484 shares in the last quarter. Institutional investors own 69.67% of the company’s stock.
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.
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