Kala Pharmaceuticals (NASDAQ:KALA) Announces Quarterly Earnings Results, Hits Estimates

Kala Pharmaceuticals (NASDAQ:KALA) released its quarterly earnings data on Thursday, May 9th. The company reported ($0.75) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.75), MarketWatch Earnings reports. The company had revenue of $1.39 million during the quarter, compared to analyst estimates of $0.96 million.

Shares of NASDAQ:KALA traded down $0.27 during midday trading on Friday, reaching $5.96. 165,545 shares of the company’s stock were exchanged, compared to its average volume of 211,932. The company has a market capitalization of $201.94 million, a price-to-earnings ratio of -2.40 and a beta of 1.64. Kala Pharmaceuticals has a 12 month low of $4.03 and a 12 month high of $17.09. The company has a debt-to-equity ratio of 0.86, a quick ratio of 10.17 and a current ratio of 10.30.

KALA has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Kala Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. BidaskClub downgraded shares of Kala Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Oppenheimer initiated coverage on shares of Kala Pharmaceuticals in a report on Wednesday, April 24th. They set an “outperform” rating and a $11.00 price objective for the company. Finally, Wedbush set a $51.00 price objective on shares of Kala Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $19.21.

A hedge fund recently raised its stake in Kala Pharmaceuticals stock. Geode Capital Management LLC lifted its holdings in shares of Kala Pharmaceuticals Inc (NASDAQ:KALA) by 79.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 199,935 shares of the company’s stock after acquiring an additional 88,484 shares during the period. Geode Capital Management LLC owned approximately 0.59% of Kala Pharmaceuticals worth $977,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 67.92% of the company’s stock.

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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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Earnings History for Kala Pharmaceuticals (NASDAQ:KALA)

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