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

KALA BIO, Inc. (NASDAQ:KALA) has been given a consensus recommendation of “Hold” by the six brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $1,018.75.

Several equities analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a research note on Wednesday, June 24th. Wall Street Zen upgraded KALA BIO from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Baker BROS. Advisors LP grew its stake in KALA BIO by 83.1% in the 4th quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock valued at $1,003,000 after acquiring an additional 818,962 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of KALA BIO by 920.7% in the first quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock valued at $72,000 after purchasing an additional 376,612 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of KALA BIO in the first quarter valued at about $1,483,000. Jane Street Group LLC acquired a new stake in shares of KALA BIO in the fourth quarter valued at approximately $80,000. Finally, Virtu Financial LLC acquired a new stake in shares of KALA BIO in the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds own 24.61% of the company’s stock.

KALA BIO Stock Performance

Shares of KALA BIO stock opened at $1.68 on Friday. KALA BIO has a 12-month low of $1.62 and a 12-month high of $1,030.00. The stock has a market cap of $31.23 million, a PE ratio of -0.02 and a beta of -2.35. The company has a 50-day moving average of $3.11 and a two-hundred day moving average of $14.43.

KALA BIO (NASDAQ:KALA) last posted its quarterly 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.