Kala Pharmaceuticals (NASDAQ:KALA) Releases Quarterly Earnings Results
Kala Pharmaceuticals (NASDAQ:KALA) announced its quarterly earnings results on Thursday. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.01), Fidelity Earnings reports. The business had revenue of $1.45 million for the quarter, compared to the consensus estimate of $3.56 million.
NASDAQ:KALA traded up $0.40 during trading hours on Friday, reaching $4.11. 374,000 shares of the company were exchanged, compared to its average volume of 249,192. The stock has a 50 day simple moving average of $3.84 and a 200 day simple moving average of $5.11. The firm has a market cap of $126.17 million, a price-to-earnings ratio of -1.66 and a beta of 2.13. Kala Pharmaceuticals has a 52-week low of $3.24 and a 52-week high of $9.25. The company has a debt-to-equity ratio of 1.16, a current ratio of 7.50 and a quick ratio of 7.04.
Several equities analysts recently issued reports on the stock. ValuEngine raised shares of Kala Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Wedbush reissued an “outperform” rating and set a $51.00 price objective on shares of Kala Pharmaceuticals in a research note on Wednesday, August 7th. HC Wainwright reduced their price objective on shares of Kala Pharmaceuticals from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Zacks Investment Research raised shares of Kala Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. cut their price target on shares of Kala Pharmaceuticals from $22.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Kala Pharmaceuticals presently has an average rating of “Buy” and an average target price of $17.54.
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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