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

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

A number of equities research analysts have recently issued reports on KALA shares. Wall Street Zen raised shares of KALA BIO to a “sell” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a research note on Friday, March 27th.

Institutional Investors Weigh In On KALA BIO

A number of institutional investors have recently made changes to their positions in KALA. Virtu Financial LLC purchased a new stake in shares of KALA BIO in the 4th quarter valued at $48,000. XTX Topco Ltd purchased a new stake in shares of KALA BIO in the 2nd quarter valued at $62,000. Renaissance Technologies LLC boosted its stake in shares of KALA BIO by 920.7% in the 1st quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock valued at $72,000 after purchasing an additional 376,612 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of KALA BIO in the 4th quarter valued at $80,000. Finally, Geode Capital Management LLC boosted its stake in shares of 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 purchasing an additional 1,534 shares in the last quarter. Hedge funds and other institutional investors own 24.61% of the company’s stock.

KALA BIO Price Performance

KALA stock opened at $2.93 on Friday. KALA BIO has a one year low of $2.85 and a one year high of $1,030.00. The stock has a market cap of $54.47 million, a PE ratio of -0.02 and a beta of -2.23. The firm has a 50 day simple moving average of $9.05 and a two-hundred day simple moving average of $23.47.

KALA BIO (NASDAQ:KALA) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter.

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.