H.C. Wainwright analyst Yi Chen reiterated a Buy rating on Kala Pharmaceuticals (KALA) today and set a price target of $14.00. The company’s shares closed last Thursday at $5.65, close to its 52-week low of $4.90.
According to TipRanks.com, Chen is a top 100 analyst with an average return of 58.7% and a 52.1% success rate. Chen covers the Healthcare sector, focusing on stocks such as Ortho Clinical Diagnostics Holdings, Interpace Diagnostics Group, and Vaccitech Plc Sponsored ADR.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Kala Pharmaceuticals with a $23.80 average price target, a 313.2% upside from current levels. In a report released yesterday, Wedbush also reiterated a Buy rating on the stock with a $49.00 price target.
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Based on Kala Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.27 million and GAAP net loss of $30.41 million. In comparison, last year the company earned revenue of $1.07 million and had a GAAP net loss of $21.96 million.
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Kala Pharmaceuticals, Inc. is a biopharmaceutical company. It focuses 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. The company was founded by Justin Hanes, Robert S. Langer and Colin R. Gardner in 2009 and is headquartered in Watertown, MA.
