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

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

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

Hedge Funds Weigh In On KALA BIO

Large investors have recently added to or reduced their stakes in the company. AIGH Capital Management LLC lifted its holdings in shares of KALA BIO by 52.8% during the 2nd quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock worth $1,428,000 after acquiring an additional 103,650 shares during the period. Woodline Partners LP acquired a new position in shares of KALA BIO in the 1st quarter worth approximately $1,483,000. Geode Capital Management LLC lifted 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 worth $268,000 after buying an additional 1,534 shares during the period. Finally, XTX Topco Ltd acquired a new stake in KALA BIO in the 2nd quarter valued at $62,000. Institutional investors and hedge funds own 24.61% of the company’s stock.

KALA BIO Trading Down 3.0%

Shares of NASDAQ KALA traded down $0.01 during mid-day trading on Thursday, reaching $0.39. The company had a trading volume of 62,640 shares, compared to its average volume of 1,710,893. KALA BIO has a 1-year low of $0.38 and a 1-year high of $20.60. The stock has a market cap of $3.81 million, a PE ratio of -0.07 and a beta of -2.43. The company has a 50-day moving average price of $0.61 and a two-hundred day moving average price of $4.31.

KALA BIO (NASDAQ:KALA) last posted its quarterly earnings results on Wednesday, November 19th. The company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.06). On average, research analysts expect that KALA BIO will post -10.84 EPS for the current year.

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.