Wedbush Thinks Kala Pharmaceuticals’ Stock is Going to Recover
Wedbush analyst Liana Moussatos reiterated a Buy rating on Kala Pharmaceuticals (KALA) yesterday and set a price target of $49.00. The company’s shares closed last Thursday at $7.26, close to its 52-week low of $6.00.
According to TipRanks.com, Moussatos is a 4-star analyst with an average return of 13.3% and a 48.3% success rate. Moussatos covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Eiger Biopharmaceuticals, and BioMarin Pharmaceutical.
Kala Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $29.00.
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Based on Kala Pharmaceuticals’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.24 million and GAAP net loss of $31.11 million. In comparison, last year the company earned revenue of $1.18 million and had a GAAP net loss of $21.96 million.
Based on the recent corporate insider activity of 28 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.