In a report released yesterday, Tim Chiang from Northland Securities maintained a Buy rating on Kala Pharmaceuticals (KALA), with a price target of $17.00. The company’s shares closed last Tuesday at $8.05.
According to TipRanks.com, Chiang is a 1-star analyst with an average return of -0.3% and a 46.5% success rate. Chiang covers the Healthcare sector, focusing on stocks such as Amphastar Pharmaceuticals, Verrica Pharmaceuticals, and Pacira Pharmaceuticals.
Currently, the analyst consensus on Kala Pharmaceuticals is a Strong Buy with an average price target of $20.80, implying a 156.2% upside from current levels. In a report issued on September 4, Wedbush also maintained a Buy rating on the stock with a $39.00 price target.
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The company has a one-year high of $14.68 and a one-year low of $3.24. Currently, Kala Pharmaceuticals has an average volume of 912.9K.
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KALA in relation to earlier this year.
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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.
