Brokerages forecast that Kala Pharmaceuticals, Inc. (NASDAQ:KALA – Get Rating) will report earnings per share of ($0.38) for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Kala Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.43) and the highest estimate coming in at ($0.30). Kala Pharmaceuticals reported earnings of ($0.57) per share during the same quarter last year, which would suggest a positive year over year growth rate of 33.3%. The business is scheduled to report its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Kala Pharmaceuticals will report full year earnings of ($1.33) per share for the current year, with EPS estimates ranging from ($1.45) to ($1.10). For the next fiscal year, analysts anticipate that the firm will post earnings of ($0.85) per share, with EPS estimates ranging from ($1.14) to ($0.70). Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Kala Pharmaceuticals.
Kala Pharmaceuticals (NASDAQ:KALA – Get Rating) last posted its earnings results on Monday, May 16th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.09). Kala Pharmaceuticals had a negative return on equity of 369.16% and a negative net margin of 1,552.90%. During the same quarter last year, the firm posted ($0.49) EPS.
KALA has been the topic of several recent analyst reports. JPMorgan Chase & Co. downgraded Kala Pharmaceuticals from a “neutral” rating to an “underweight” rating and set a $1.50 price target on the stock. in a report on Wednesday, March 30th. Zacks Investment Research raised Kala Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, February 16th. HC Wainwright dropped their target price on Kala Pharmaceuticals from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, May 24th. Northland Securities dropped their target price on Kala Pharmaceuticals from $6.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 30th. Finally, Wedbush lowered their price objective on Kala Pharmaceuticals from $6.00 to $3.00 and set a “na” rating for the company in a research report on Tuesday, May 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $3.13.
In other news, major shareholder Ra Capital Management, L.P. sold 1,434,509 shares of the business’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $0.42, for a total transaction of $602,493.78. Following the transaction, the insider now directly owns 8,045,299 shares in the company, valued at approximately $3,379,025.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 30.55% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in KALA. BNP Paribas Arbitrage SA increased its holdings in Kala Pharmaceuticals by 366.1% in the third quarter. BNP Paribas Arbitrage SA now owns 10,670 shares of the company’s stock valued at $28,000 after buying an additional 8,381 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Kala Pharmaceuticals by 5.4% in the third quarter. Bank of New York Mellon Corp now owns 188,931 shares of the company’s stock valued at $495,000 after buying an additional 9,642 shares in the last quarter. Barclays PLC increased its holdings in Kala Pharmaceuticals by 43.3% in the third quarter. Barclays PLC now owns 34,053 shares of the company’s stock valued at $88,000 after buying an additional 10,287 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in Kala Pharmaceuticals by 33.6% in the third quarter. Oppenheimer & Co. Inc. now owns 41,000 shares of the company’s stock valued at $107,000 after buying an additional 10,300 shares in the last quarter. Finally, Virtu Financial LLC increased its stake in shares of Kala Pharmaceuticals by 11.3% during the 1st quarter. Virtu Financial LLC now owns 140,511 shares of the company’s stock worth $194,000 after purchasing an additional 14,280 shares in the last quarter. Hedge funds and other institutional investors own 52.81% of the company’s stock.
Shares of NASDAQ:KALA traded up $0.02 during trading on Friday, reaching $0.38. 3,272,979 shares of the stock were exchanged, compared to its average volume of 2,224,404. The stock has a fifty day moving average of $0.79 and a two-hundred day moving average of $1.06. Kala Pharmaceuticals has a 1-year low of $0.34 and a 1-year high of $6.77. The firm has a market cap of $27.58 million, a price-to-earnings ratio of -0.18 and a beta of 1.00. The company has a debt-to-equity ratio of 5.04, a current ratio of 3.00 and a quick ratio of 2.68.
About Kala Pharmaceuticals (Get Rating)
Kala Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies using its proprietary mucus penetrating particles technology for the treatment of eye diseases. The company’s product candidates include KPI-012, which is in clinical development stage for the treatment of persistent corneal epithelial defects; EYSUVIS for the short-term treatment of the signs and symptoms of dry eye disease; and INVELTYS, a topical twice-a-day ocular steroid for the treatment of post-operative inflammation and pain following ocular surgery.
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