KALA BIO (NASDAQ:KALA) Given “Outperform” Rating at Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of KALA BIO (NASDAQ:KALA) in a report issued on Monday morning,Benzinga reports. Oppenheimer currently has a $15.00 price objective on the stock.

Separately, 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 note on Friday, May 23rd.

KALA BIO Stock Down 5.4%

NASDAQ:KALA opened at $3.52 on Monday. The company has a market capitalization of $22.71 million, a price-to-earnings ratio of -0.28 and a beta of -1.91. KALA BIO has a one year low of $2.92 and a one year high of $11.20. The stock has a 50-day simple moving average of $3.84 and a 200 day simple moving average of $6.04. The company has a debt-to-equity ratio of 3.18, a quick ratio of 2.15 and a current ratio of 2.15.

KALA BIO (NASDAQ:KALA) last posted its quarterly earnings results on Friday, March 28th. The company reported ($1.74) EPS for the quarter, topping analysts’ consensus estimates of ($2.28) by $0.54. Sell-side analysts predict that KALA BIO will post -10.84 EPS for the current fiscal year.

Hedge Funds Weigh In On KALA BIO

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Woodline Partners LP acquired a new position in KALA BIO in the first quarter valued at approximately $1,483,000. ADAR1 Capital Management LLC boosted its stake in KALA BIO by 35.7% in the first quarter. ADAR1 Capital Management LLC now owns 298,955 shares of the company’s stock valued at $1,713,000 after acquiring an additional 78,582 shares during the period. Readystate Asset Management LP acquired a new position in KALA BIO in the first quarter valued at approximately $243,000. AIGH Capital Management LLC boosted its stake in KALA BIO by 61.9% in the first quarter. AIGH Capital Management LLC now owns 196,350 shares of the company’s stock valued at $1,125,000 after acquiring an additional 75,048 shares during the period. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in KALA BIO by 10.0% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 178,934 shares of the company’s stock valued at $1,242,000 after acquiring an additional 16,271 shares during the period. 24.61% of the stock is currently owned by institutional investors and hedge funds.

KALA BIO Company Profile

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.