KALA BIO, Inc. (NASDAQ:KALA) Receives Average Recommendation of “Hold” from Brokerages

KALA BIO, Inc. (NASDAQ:KALA) has earned an average rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $1,158.3333.

A number of research analysts recently commented 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 downgraded shares of KALA BIO from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th.

Institutional Trading of KALA BIO

Several large investors have recently made changes to their positions in the company. Baker BROS. Advisors LP raised its position in KALA BIO by 83.1% during the fourth quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock valued at $1,003,000 after purchasing an additional 818,962 shares in the last quarter. Woodline Partners LP bought a new stake in KALA BIO during the first quarter worth $1,483,000. Geode Capital Management LLC boosted its holdings in shares of KALA BIO by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock valued at $268,000 after purchasing an additional 1,534 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of KALA BIO during the 4th quarter worth $80,000. Finally, XTX Topco Ltd bought a new stake in shares of KALA BIO during the 2nd quarter worth $62,000. Institutional investors and hedge funds own 24.61% of the company’s stock.

KALA BIO Price Performance

Shares of NASDAQ:KALA opened at $0.67 on Thursday. The business’s 50 day simple moving average is $1.93 and its 200 day simple moving average is $10.61. KALA BIO has a 1 year low of $0.59 and a 1 year high of $1,030.00. The company has a market capitalization of $13.02 million, a P/E ratio of -0.01 and a beta of -2.35.

KALA BIO (NASDAQ:KALA) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($8.50) by $8.36.

About KALA BIO

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.