Brokerages Set KALA BIO, Inc. (NASDAQ:KALA) Target Price at $1,018.75

KALA BIO, Inc. (NASDAQ:KALA) has received an average rating of “Hold” from the six brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $1,018.75.

Several brokerages have issued reports on KALA. Weiss Ratings reiterated a “sell (e+)” rating on shares of KALA BIO in a research note on Friday, March 27th. Wall Street Zen upgraded shares of KALA BIO from a “sell” rating to a “hold” rating in a research note on Sunday, May 24th.

KALA BIO Stock Performance

Shares of KALA stock opened at $2.63 on Wednesday. KALA BIO has a 1 year low of $2.03 and a 1 year high of $1,030.00. The firm’s fifty day moving average price is $5.16 and its two-hundred day moving average price is $18.63. The firm has a market capitalization of $48.89 million, a P/E ratio of -0.03 and a beta of -2.40.

KALA BIO (NASDAQ:KALA) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($8.50) by $8.36.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KALA. Baker BROS. Advisors LP increased its stake in shares of 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 purchasing an additional 818,962 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of KALA BIO by 920.7% during the 1st quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock worth $72,000 after purchasing an additional 376,612 shares during the last quarter. Woodline Partners LP acquired a new position in shares of KALA BIO during the 1st quarter worth about $1,483,000. Jane Street Group LLC acquired a new position in shares of KALA BIO during the 4th quarter worth about $80,000. Finally, Virtu Financial LLC acquired a new position in shares of KALA BIO during the 4th quarter worth about $48,000. 24.61% of the stock is currently owned by institutional investors and hedge funds.

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.