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KALA

Kala Pharmaceuticals

$6.56

0.09 (1.39%)

06:55
11/14/18
11/14
06:55
11/14/18
06:55

Kala Pharmaceuticals selloff an attractive long-term opportunity, says JPMorgan

JPMorgan analyst Chris Schott says the 45% selloff in shares of Kala Pharmaceuticals over the last three months creates an attractive long-term opportunity. The analyst continues to see Kala as an "attractive ophthalmology pure-play" with a third ongoing pivotal Phase 3 trial for KPI-121 in dry eye with top-line results expected in Q4 of 2019 as well as the upcoming launch for the recently approved Inveltys for post-surgical pain and inflammation expected in early 2019. Inveltys offers a "de-risked opportunity" with peak sales potential of several hundred million dollars while KPI-121 represents a potentially more meaningful product, Schott tells investors in a research note. He lowered his price target for Kala Pharmaceuticals to $22 from $35 and keeps an Overweight rating on the name.

  • 14

    Nov

KALA Kala Pharmaceuticals
$6.56

0.09 (1.39%)

11/09/18
HCWC
11/09/18
NO CHANGE
Target $15
HCWC
Buy
Kala Pharmaceuticals price target lowered to $15 from $32 at H.C. Wainwright
H.C. Wainwright analyst Raghuram Selvaraju lowered his price target for Kala Pharmaceuticals to $15 following the company's Q3 results but reiterates a Buy rating on the shares. The analyst adjusted his 2019 revenue projections lower due to the time needed for commercial payors to start covering Inveltys. Further, due to recent late-stage trial initiations of competitor candidates in dry eye, the analyst more than halved his projected peak annual sales of KPI-121 0.25% from over $2B to $1B, while maintaining the probability of success at 65%.
10/04/18
WELS
10/04/18
NO CHANGE
Target $15
WELS
Outperform
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.
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.

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