Wedbush Believes Kala Pharmaceuticals (KALA) Won’t Stop Here
Wedbush analyst Liana Moussatos maintained a Buy rating on Kala Pharmaceuticals (KALA) on May 15 and set a price target of $35.00. The company’s shares closed last Friday at $12.10, close to its 52-week high of $12.51.
According to TipRanks.com, Moussatos is a 3-star analyst with an average return of 1.0% and a 46.6% success rate. Moussatos covers the Healthcare sector, focusing on stocks such as Catabasis Pharmaceuticals, Global Blood Therapeutics, and Eiger Biopharmaceuticals.
Currently, the analyst consensus on Kala Pharmaceuticals is a Strong Buy with an average price target of $24.50, which is a 109.2% upside from current levels. In a report issued on May 5, H.C. Wainwright also reiterated a Buy rating on the stock with a $13.00 price target.
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The company has a one-year high of $12.51 and a one-year low of $3.24. Currently, Kala Pharmaceuticals has an average volume of 1.49M.
Based on the recent corporate insider activity of 7 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.