RTTNews | Sep 14, 2020 10:19AM EDT

10:19 Monday, September 14, 2020 (RTTNews.com) - Shares of Kala Pharmaceuticals, Inc. (KALA) are losing almost 11 percent or $0.94 in Monday's morning trade at $7.83 after a rating downgrade by analysts at Jefferies Financial Group.

According to reports, Jefferies downgraded Kala Pharmaceuticals from a 'buy' rating to a 'hold' rating and lowered the price target on the company's stock from $21 to $10.

Kala Pharmaceuticals has traded in a range of $3.24 to $14.68 in the past 52 weeks.

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