After Wedbush and Wells Fargo gave Kala Pharmaceuticals Inc (NASDAQ: KALA) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Ram Selvaraju reiterated a Buy rating on Kala Pharmaceuticals Inc today and set a price target of $35. The company’s shares closed yesterday at $11.70, close to its 52-week low of $11.39.
Selvaraju said:
“Our 12-month price target is derived from a market value of the firm at $1.0B, which includes a discounted cash flow-based asset value of $1.1B for INVELTYS (85% probability of success) and KPI-121 0.25% (65% probability of success), with a 15% discount rate and 0.5% terminal growth rate.”
According to TipRanks.com, Selvaraju ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -4.3% and a 35.0% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Kala Pharmaceuticals Inc with a $33.67 average price target, which is a 187.8% upside from current levels. In a report issued on August 9, Wedbush also reiterated a Buy rating on the stock with a $47 price target.
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The company has a one-year high of $26.75 and a one-year low of $11.39. Currently, Kala Pharmaceuticals Inc has an average volume of 165.2K.
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Kala Pharmaceuticals, Inc. is a biopharmaceutical company, focused on the development and commercialization of therapeutics using proprietary nanoparticle-based Mucus Penetrating Particles, or MPP, technology, with an initial focus on the treatment of eye diseases.
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