Kala Pharmaceuticals price target raised to $22 from $20 at H.C. Wainwright

H.C. Wainwright analyst Yi Chen raised the firm’s price target on Kala Pharmaceuticals to $22 from $20 and keeps a Buy rating on the shares after the company was granted Fast Track designation for KPI-012 for the treatment of persistent corneal epithelial defect. The analyst notes there are no approved therapeutics for the majority of PCED patients, who may experience vision impairment and corneal perforation. The firm believes the Fast Track and Orphan Drug designations should facilitate the clinical development of KPI-012 going forward.