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

Shares of KALA BIO, Inc. (NASDAQ:KALA) have received an average rating of “Hold” from the six research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $20.3750.

A number of research analysts have recently issued reports on KALA shares. HC Wainwright reaffirmed a “neutral” rating on shares of KALA BIO in a research report on Monday, September 29th. Mizuho set a $1.50 price target on shares of KALA BIO in a report on Tuesday, September 30th. LADENBURG THALM/SH SH lowered KALA BIO from a “buy” rating to a “neutral” rating in a report on Monday, September 29th. Lifesci Capital cut KALA BIO from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a research report on Monday, December 29th.

Insider Activity at KALA BIO

In other news, Director Mark T. Iwicki sold 154,894 shares of the company’s stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $0.81, for a total transaction of $125,464.14. Following the transaction, the director owned 103,540 shares in the company, valued at $83,867.40. This represents a 59.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Todd Bazemore sold 47,768 shares of the business’s stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $0.83, for a total transaction of $39,647.44. Following the sale, the director directly owned 35,932 shares in the company, valued at approximately $29,823.56. This represents a 57.07% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 303,413 shares of company stock worth $248,725. 2.24% of the stock is owned by insiders.

Hedge Funds Weigh In On KALA BIO

Several hedge funds have recently made changes to their positions in the company. XTX Topco Ltd acquired a new stake in KALA BIO during the 2nd quarter worth about $62,000. Geode Capital Management LLC lifted its holdings in shares of KALA BIO by 2.8% during 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 period. AIGH Capital Management LLC lifted its holdings in shares of KALA BIO by 52.8% during the second quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock worth $1,428,000 after purchasing an additional 103,650 shares during the period. Finally, Woodline Partners LP purchased a new stake in KALA BIO in the first quarter valued at approximately $1,483,000. 24.61% of the stock is owned by institutional investors and hedge funds.

KALA BIO Trading Down 2.7%

Shares of NASDAQ:KALA opened at $0.63 on Friday. The company has a market capitalization of $6.21 million, a PE ratio of -0.11 and a beta of -2.43. KALA BIO has a 12-month low of $0.51 and a 12-month high of $20.60. The business’s fifty day simple moving average is $0.71 and its 200-day simple moving average is $5.13.

KALA BIO (NASDAQ:KALA) last issued its quarterly earnings data on Wednesday, November 19th. The company reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.06). Research analysts predict that KALA BIO will post -10.84 EPS for the current year.

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.