KALA BIO, Inc. (NASDAQ:KALA) Receives $20.38 Average PT from Analysts

Shares of KALA BIO, Inc. (NASDAQ:KALA) have been given a consensus recommendation of “Hold” by 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 given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $20.3750.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of KALA BIO in a research note on Friday, March 27th.

Hedge Funds Weigh In On KALA BIO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Woodline Partners LP bought a new position in shares of KALA BIO in the first quarter valued at approximately $1,483,000. Geode Capital Management LLC grew its stake in KALA BIO by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock valued at $268,000 after buying an additional 1,534 shares during the last quarter. XTX Topco Ltd bought a new position in KALA BIO in the 2nd quarter worth $62,000. Jane Street Group LLC bought a new position in KALA BIO in the 4th quarter worth $80,000. Finally, Baker BROS. Advisors LP lifted its position in KALA BIO by 83.1% during the 4th quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock worth $1,003,000 after acquiring an additional 818,962 shares during the last quarter. Institutional investors and hedge funds own 24.61% of the company’s stock.

KALA BIO Trading Up 4.4%

Shares of NASDAQ:KALA opened at $0.17 on Friday. The stock has a market capitalization of $155.11 million, a PE ratio of -0.03 and a beta of -1.98. KALA BIO has a 1 year low of $0.15 and a 1 year high of $20.60. The firm has a fifty day moving average price of $0.35 and a 200 day moving average price of $1.90.

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.