KALA BIO (NASDAQ:KALA) Earns Outperform Rating from Analysts at Mizuho

Investment analysts at Mizuho assumed coverage on shares of KALA BIO (NASDAQ:KALA) in a research note issued to investors on Monday,Benzinga reports. The brokerage set an “outperform” rating and a $30.00 price target on the stock. Mizuho’s price target would indicate a potential upside of 106.19% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of KALA BIO from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. HC Wainwright decreased their target price on KALA BIO from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, May 23rd. Oppenheimer restated an “outperform” rating and set a $15.00 price target on shares of KALA BIO in a research note on Monday, June 2nd. LADENBURG THALM/SH SH initiated coverage on KALA BIO in a research note on Friday, July 11th. They issued a “buy” rating and a $12.00 price objective for the company. Finally, Lifesci Capital raised KALA BIO to a “strong-buy” rating in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $17.25.

KALA BIO Stock Performance

Shares of KALA opened at $14.55 on Monday. The company has a market capitalization of $102.14 million, a price-to-earnings ratio of -2.14 and a beta of -1.82. KALA BIO has a 52-week low of $2.92 and a 52-week high of $15.80. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 3.19. The stock has a 50 day moving average price of $7.78 and a 200 day moving average price of $5.79.

KALA BIO (NASDAQ:KALA) last released its quarterly earnings data on Friday, August 8th. The company reported ($1.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.82) by $0.11. Research analysts predict that KALA BIO will post -10.84 EPS for the current fiscal year.

Insider Activity at KALA BIO

In related news, Director Mark T. Iwicki sold 13,227 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $4.01, for a total transaction of $53,040.27. Following the completion of the sale, the director directly owned 258,433 shares of the company’s stock, valued at $1,036,316.33. This trade represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 30,678 shares of company stock worth $123,019 in the last three months. 8.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On KALA BIO

Large investors have recently bought and sold shares of the company. Woodline Partners LP acquired a new position in shares of KALA BIO during the first quarter worth about $1,483,000. AIGH Capital Management LLC lifted its position in KALA BIO by 52.8% in the second quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock valued at $1,428,000 after purchasing an additional 103,650 shares during the period. ADAR1 Capital Management LLC boosted its holdings in KALA BIO by 35.7% in the 1st quarter. ADAR1 Capital Management LLC now owns 298,955 shares of the company’s stock valued at $1,713,000 after purchasing an additional 78,582 shares in the last quarter. Readystate Asset Management LP purchased a new stake in KALA BIO in the 1st quarter valued at approximately $243,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in KALA BIO by 10.0% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 178,934 shares of the company’s stock worth $1,242,000 after purchasing an additional 16,271 shares during the period. Hedge funds and other institutional investors own 24.61% of the company’s stock.

About KALA BIO

KALA BIO, Inc, a clinical-stage biopharmaceutical company, engages in the research, development, and commercialization of innovative therapies for rare and severe eye diseases in the United States. The company's product candidates include KPI-012, which is in Phase 2b clinical trial for the treatment of persistent corneal epithelial defects.