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KALA

Kala Pharmaceuticals

$7.84

-1.415 (-15.30%)

08:18
10/04/18
10/04
08:18
10/04/18
08:18

Kala Pharmaceuticals price target lowered to $15 from $19 at Wells Fargo

Wells Fargo analyst David Maris lowered his price target for Kala Pharmaceuticals to $15 from $19 after the company announced the pricing of a secondary equity offering of 7.5M shares at $8.25, raising net proceeds of about $62M. Further, the company also announced a $110M credit facility with Athyrium Capital Management, with the first $75M tranche drawn immediately at an interest rate of 9.875%, the analyst notes. Maris points out that the stock sold off about 16%, reflecting the about 30% equity dilution and high interest cost of the debt, and says he believes the financing was executed "poorly" and at expensive terms. He reiterates an Outperform rating on the shares.

  • 03

    Oct

KALA Kala Pharmaceuticals
$7.84

-1.415 (-15.30%)

10/04/18
HCWC
10/04/18
NO CHANGE
Target $32
HCWC
Buy
Kala Pharmaceuticals price target lowered to $32 from $37 at H.C. Wainwright
H.C. Wainwright analyst Raghuram Selvaraju lowered his price target for Kala Pharmaceuticals to $32 after the company announced a public offering of 7.5M shares at $8.25 per share for gross proceeds of approximately $62M. The public offering and $75M term loan provide Kala sufficient capital for clinical development and commercialization, Selvaraju tells investors in a research note. The analyst reiterates a Buy rating on the shares.
08/24/18
HCWC
08/24/18
NO CHANGE
Target $37
HCWC
Buy
Kala Pharmaceuticals price target raised to $37 from $35 at H.C. Wainwright
H.C. Wainwright analyst Raghuram Selvaraju raised his price target for Kala Pharmaceuticals to $37 after the FDA approved Inveltys for the treatment of post-operative inflammation and pain following all ocular surgeries. The approval is not only a risk-mitigating milestone for the company, but also crucial validation of its MPP technology, Selvaraju tells investors in a research note. The analyst reiterates a Buy rating on Kala Pharmaceuticals.
08/23/18
WELS
08/23/18
NO CHANGE
WELS
Outperform
FDA approval of Kala's Inveltys 'very positive news,' says Wells Fargo
Wells Fargo analyst David Maris says FDA approval of Kala Pharmaceuticals' Inveltys for post-operative pain inflammation and pain following ocular surgery is "very positive news." The analyst notes that Inveltys is the first and only twice- daily ocular steroid for this indication, as other products that are typically dosed at four times per day. Maris continue to believe Inveltys will be "very successful." He anticipates sales of approximately $25M in 2019, and $345M by 2025. The analyst keeps an Outperform rating on Kala amid the "sell-on-the-news reaction today."
07/23/18
HCWC
07/23/18
INITIATION
Target $35
HCWC
Buy
Kala Pharmaceuticals initiated with a Buy at H.C. Wainwright
H.C. Wainwright analyst Raghuram Selvaraju started Kala Pharmaceuticals with a Buy rating and $35 price target. The current valuation provides an "intriguing entry point" for investors ahead of the "risk-mitigated catalyst," the potential approval of Inveltys, Selvaraju tells investors in a research note. The analyst has "high confidence" that the drug should be approved in a "timely manner."

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