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

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

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in KALA. Woodline Partners LP bought a new stake in shares of KALA BIO in the 1st quarter worth $1,483,000. Geode Capital Management LLC lifted its position 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 purchasing an additional 1,534 shares in the last quarter. Jane Street Group LLC bought a new position in shares of KALA BIO during the fourth quarter valued at about $80,000. XTX Topco Ltd purchased a new position in KALA BIO during the second quarter worth about $62,000. Finally, Virtu Financial LLC purchased a new position in KALA BIO during the fourth quarter worth about $48,000. Institutional investors own 24.61% of the company’s stock.

KALA BIO Stock Down 6.7%

KALA stock opened at $0.20 on Friday. KALA BIO has a 52 week low of $0.20 and a 52 week high of $20.60. The company has a market cap of $182.27 million, a PE ratio of -0.03 and a beta of -2.37. The business has a 50-day simple moving average of $0.40 and a 200 day simple moving average of $2.45.

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.