KALA BIO, Inc. (NASDAQ:KALA) Receives $20.38 Average Price Target from Brokerages

KALA BIO, Inc. (NASDAQ:KALA) has been given an average recommendation of “Hold” by the six ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $20.3750.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a research note on Monday, December 29th.

KALA BIO Trading Up 10.3%

NASDAQ KALA opened at $0.44 on Thursday. The firm has a market cap of $4.33 million, a PE ratio of -0.07 and a beta of -2.43. KALA BIO has a 1-year low of $0.38 and a 1-year high of $20.60. The stock has a 50-day moving average of $0.65 and a 200-day moving average of $4.45.

KALA BIO (NASDAQ:KALA) last announced its quarterly earnings results on Wednesday, November 19th. The company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.06). As a group, equities research analysts forecast that KALA BIO will post -10.84 earnings per share for the current fiscal year.

Institutional Trading of KALA BIO

A number of institutional investors have recently modified their holdings of KALA. Woodline Partners LP bought a new position in KALA BIO during the 1st quarter valued at approximately $1,483,000. AIGH Capital Management LLC raised 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 valued at $1,428,000 after acquiring an additional 103,650 shares in the last quarter. Geode Capital Management LLC raised 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 valued at $268,000 after acquiring an additional 1,534 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in KALA BIO in the second quarter worth $62,000. 24.61% of the stock is currently owned by hedge funds and other institutional investors.

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.