H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Kala Pharmaceuticals Inc (NASDAQ: KALA) today and set a price target of $37. The company’s shares closed on Friday at $11.34, close to its 52-week low of $11.02.
Selvaraju commented:
“Our 12-month target is derived from a market value of the firm at $1.1B, which includes a discounted cash flow-based asset value of $1.1B for INVELTYS (100% 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 is a 4-star analyst with an average return of 3.6% and a 47.1% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Kala Pharmaceuticals Inc with a $35.67 average price target, representing a 214.6% upside. In a report issued on August 26, Wedbush also reiterated a Buy rating on the stock with a $51 price target.
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Based on Kala Pharmaceuticals Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $14.62 million. In comparison, last year the company had a GAAP net loss of $10.99 million.
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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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