HC Wainwright Reiterates “Neutral” Rating for KALA BIO (NASDAQ:KALA)

KALA BIO (NASDAQ:KALA)‘s stock had its “neutral” rating reiterated by HC Wainwright in a note issued to investors on Monday.

A number of other equities research analysts have also issued reports on the company. Lifesci Capital raised KALA BIO to a “strong-buy” rating in a research report on Wednesday, September 3rd. LADENBURG THALM/SH SH lowered KALA BIO from a “buy” rating to a “neutral” rating in a report on Monday. Oppenheimer upped their target price on KALA BIO from $15.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, September 11th. Mizuho assumed coverage on KALA BIO in a research report on Monday, September 8th. They set an “outperform” rating and a $30.00 price objective for the company. Finally, Wall Street Zen cut KALA BIO from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. One research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.50.

KALA BIO Trading Down 88.9%

KALA traded down $16.93 during midday trading on Monday, reaching $2.12. 32,505,168 shares of the company were exchanged, compared to its average volume of 290,594. The stock’s 50-day simple moving average is $11.38 and its 200 day simple moving average is $6.91. KALA BIO has a one year low of $1.10 and a one year high of $20.60. The company has a debt-to-equity ratio of 3.19, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a market capitalization of $14.87 million, a P/E ratio of -0.31 and a beta of -1.82.

KALA BIO (NASDAQ:KALA) last posted its earnings results on Friday, August 8th. The company reported ($1.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.82) by $0.11. As a group, analysts forecast that KALA BIO will post -10.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in KALA. AIGH Capital Management LLC boosted its holdings in KALA BIO by 61.9% in the first quarter. AIGH Capital Management LLC now owns 196,350 shares of the company’s stock worth $1,125,000 after acquiring an additional 75,048 shares in the last quarter. Readystate Asset Management LP purchased a new position in shares of KALA BIO in the first quarter valued at $243,000. ADAR1 Capital Management LLC grew its position in KALA BIO by 35.7% during the first quarter. ADAR1 Capital Management LLC now owns 298,955 shares of the company’s stock worth $1,713,000 after buying an additional 78,582 shares in the last quarter. Woodline Partners LP purchased a new position in KALA BIO during the first quarter worth about $1,483,000. Finally, Geode Capital Management LLC increased its position in shares of KALA BIO by 2.8% during the 2nd 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 during the last quarter. Institutional investors own 24.61% of the company’s stock.

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.