KALA BIO, Inc. (NASDAQ:KALA) Given Average Rating of “Hold” by Brokerages

Shares of KALA BIO, Inc. (NASDAQ:KALA) have earned a consensus rating of “Hold” from the six ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $1,018.75.

A number of equities research analysts recently issued reports on KALA shares. Wall Street Zen raised KALA BIO from a “sell” rating to a “hold” rating in a research note on Sunday, May 24th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a research note on Friday, March 27th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in shares of KALA BIO during the 4th quarter worth $48,000. XTX Topco Ltd purchased a new position in shares of KALA BIO during the 2nd quarter worth $62,000. Renaissance Technologies LLC lifted its stake in shares of KALA BIO by 920.7% during the 1st quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock worth $72,000 after purchasing an additional 376,612 shares during the period. Jane Street Group LLC purchased a new position in shares of KALA BIO during the 4th quarter worth $80,000. Finally, Geode Capital Management LLC lifted its stake in shares of KALA BIO by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock worth $268,000 after purchasing an additional 1,534 shares during the period. Hedge funds and other institutional investors own 24.61% of the company’s stock.

KALA BIO Stock Performance

KALA stock opened at $2.35 on Wednesday. KALA BIO has a 1 year low of $2.03 and a 1 year high of $1,030.00. The stock’s 50 day moving average price is $5.52 and its 200 day moving average price is $19.24. The firm has a market cap of $43.69 million, a P/E ratio of -0.02 and a beta of -2.40.

KALA BIO (NASDAQ:KALA) last posted its earnings results on Friday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($8.50) by $8.36.

KALA BIO Company Profile

KALA Bio (NASDAQ: KALA) is a commercial-stage biopharmaceutical company focused on the development and commercialization of novel therapies for ocular diseases. The company’s proprietary surface charge–based nanoparticle delivery platform is designed to enhance penetration and retention of therapeutic agents on the ocular surface. This technology is the basis for its lead product, Eysuvis (KPI-121 1.0%), an FDA-approved topical corticosteroid for short-term relief of ocular itching associated with allergic conjunctivitis.

Beyond its approved therapy, KALA Bio is advancing a pipeline of investigational drug candidates targeting inflammatory and degenerative eye conditions.