Wedbush Keeps a Buy Rating on Kala Pharmaceuticals (KALA)

Wedbush analyst Liana Moussatos maintained a Buy rating on Kala Pharmaceuticals (KALAResearch Report) on August 7 and set a price target of $39.00. The company’s shares closed last Friday at $8.92.

According to TipRanks.com, Moussatos is a 4-star analyst with an average return of 8.6% and a 51.3% success rate. Moussatos covers the Healthcare sector, focusing on stocks such as Catabasis Pharmaceuticals, Global Blood Therapeutics, and Eiger Biopharmaceuticals.

Kala Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $21.50, which is a 135.0% upside from current levels. In a report issued on July 23, Northland Securities also initiated coverage with a Buy rating on the stock with a $17.00 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 967.3K.

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.