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

KALA BIO, Inc. (NASDAQ:KALA) has received a consensus rating of “Hold” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $1,158.3333.

A number of research firms have recently issued reports on KALA. Wall Street Zen upgraded KALA BIO from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of KALA BIO in a report on Wednesday, June 24th.

Hedge Funds Weigh In On KALA BIO

Institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in KALA BIO during the fourth quarter valued at approximately $48,000. XTX Topco Ltd purchased a new stake in KALA BIO during the second quarter valued at approximately $62,000. Renaissance Technologies LLC raised its position in KALA BIO by 920.7% in the first quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock worth $72,000 after acquiring an additional 376,612 shares during the period. Jane Street Group LLC bought a new position in KALA BIO in the fourth quarter worth approximately $80,000. Finally, BlackRock Inc. purchased a new position in shares of KALA BIO during the 2nd quarter worth $124,000. Hedge funds and other institutional investors own 24.61% of the company’s stock.

KALA BIO Stock Performance

Shares of KALA stock opened at $0.82 on Monday. KALA BIO has a 12-month low of $0.59 and a 12-month high of $1,030.00. The firm’s 50 day moving average is $1.41 and its 200 day moving average is $7.11. The stock has a market capitalization of $15.86 million, a P/E ratio of -0.03 and a beta of -2.26.

KALA BIO (NASDAQ:KALA) last announced its earnings results on Wednesday, August 19th. The company reported ($21.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($6.00) by ($15.32).

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.