Northland Securities Maintains Their Buy Rating on Kala Pharmaceuticals (KALA)

By Ryan Adsit

In a report released today, Tim Chiang from Northland Securities maintained a Buy rating on Kala Pharmaceuticals (KALAResearch Report), with a price target of $17.00. The company’s shares closed last Friday at $7.30.

According to TipRanks.com, Chiang is a 2-star analyst with an average return of 0.3% and a 50.7% success rate. Chiang covers the Healthcare sector, focusing on stocks such as Amphastar Pharmaceuticals, Verrica Pharmaceuticals, and Pacira Pharmaceuticals.

Kala Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $22.80, implying a 212.3% upside from current levels. In a report issued on November 17, H.C. Wainwright also reiterated a Buy rating on the stock with a $17.00 price target.

See today’s analyst top recommended stocks >>

Based on Kala Pharmaceuticals’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.22 million and GAAP net loss of $27.95 million. In comparison, last year the company earned revenue of $1.45 million and had a GAAP net loss of $23.18 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.