KALA BIO (NASDAQ:KALA) Downgraded to “Neutral” Rating by LADENBURG THALM/SH SH

LADENBURG THALM/SH SH lowered shares of KALA BIO (NASDAQ:KALA) from a buy rating to a neutral rating in a report released on Monday, MarketBeat Ratings reports.

A number of other analysts have also recently commented on KALA. Wall Street Zen cut shares of KALA BIO from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Oppenheimer increased their target price on KALA BIO from $15.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, September 11th. HC Wainwright raised their price target on KALA BIO from $12.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Mizuho initiated coverage on KALA BIO in a research note on Monday, September 8th. They set an “outperform” rating and a $30.00 price objective on the stock. Finally, Lifesci Capital raised KALA BIO to a “strong-buy” rating in a report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, KALA BIO currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.50.

KALA BIO Stock Performance

Shares of KALA opened at $2.05 on Monday. KALA BIO has a 1 year low of $1.10 and a 1 year high of $20.60. The company has a debt-to-equity ratio of 3.19, a current ratio of 2.10 and a quick ratio of 2.10. The stock’s fifty day moving average price is $11.31 and its two-hundred day moving average price is $6.88. The firm has a market cap of $14.39 million, a PE ratio of -0.30 and a beta of -1.82.

KALA BIO (NASDAQ:KALA) last announced its quarterly earnings data on Friday, August 8th. The company reported ($1.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.82) by $0.11. On average, equities research analysts forecast that KALA BIO will post -10.84 EPS for the current year.

Hedge Funds Weigh In On KALA BIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AIGH Capital Management LLC increased its stake in KALA BIO by 52.8% in the 2nd quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock worth $1,428,000 after acquiring an additional 103,650 shares during the last quarter. ADAR1 Capital Management LLC boosted its position in shares of KALA BIO by 35.7% during the 1st 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 last quarter. Woodline Partners LP purchased a new position in shares of KALA BIO during the first quarter worth about $1,483,000. Geode Capital Management LLC increased its position in shares of KALA BIO by 2.8% in the second 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 last quarter. Finally, Readystate Asset Management LP bought a new position in shares of KALA BIO in the first quarter worth approximately $243,000. 24.61% of the stock is currently owned by hedge funds and other institutional investors.

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.