Why did kala stock go up in premarket today.

Kala Pharmaceuticals (KALA) stock is up in premarket trading due to a combination of company-specific news and broader market factors:

1. Positive FDA News: Kala Pharmaceuticals' treatment for persistent corneal epithelial defect (PCED) received a favorable response from the U.S. Food and Drug Administration (FDA), which accepted the company's investigational new drug (IND) application for KPI-012. This news could be seen as a significant milestone in the company's drug development and has likely instilled investor confidence in its future prospects.
2. Analyst Price Target: The mean of analysts' price targets for KALA points to a 152.8% upside in the stock. This positive outlook from analysts could be contributing to the anticipation of future stock price appreciation.
3. Recent Stock Performance: Kala Pharmaceuticals' stock has experienced a significant increase, with a 750% gain over three days following the positive FDA news. This recent positive momentum may be carrying over into premarket trading.

In conclusion, the premarket rise in KALA stock is likely a result of positive company-specific news (FDA acceptance of IND application, analyst price target) and the unique dynamics of premarket trading.