H.C. Wainwright Reiterates Their Buy Rating on Kala Pharmaceuticals (KALA)

By Jason Carr

In a report released today, Yi Chen from H.C. Wainwright reiterated a Buy rating on Kala Pharmaceuticals (KALAResearch Report), with a price target of $10.00. The company’s shares closed last Monday at $6.52.

According to TipRanks.com, Chen is a 3-star analyst with an average return of 3.2% and a 51.1% success rate. Chen covers the Healthcare sector, focusing on stocks such as HTG Molecular Diagnostics, EyePoint Pharmaceuticals, and Stealth Biotherapeutics.

Currently, the analyst consensus on Kala Pharmaceuticals is a Strong Buy with an average price target of $19.75, which is a 242.3% upside from current levels. In a report issued on January 17, Wedbush also reiterated a Buy rating on the stock with a $51.00 price target.

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Based on Kala Pharmaceuticals’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $23.18 million. In comparison, last year the company had a GAAP net loss of $25.22 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.