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

Shares of KALA BIO, Inc. (NASDAQ:KALA) have been given a consensus rating of “Hold” by the six research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $1,018.75.

A number of equities research analysts recently issued reports on the company. Wall Street Zen raised KALA BIO from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a report on Wednesday, June 24th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its position in KALA BIO by 920.7% during the first 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 period. Virtu Financial LLC bought a new position in KALA BIO in the 4th quarter valued at about $48,000. Baker BROS. Advisors LP increased its holdings in KALA BIO by 83.1% in the 4th quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock valued at $1,003,000 after buying an additional 818,962 shares during the period. Jane Street Group LLC acquired a new position in shares of KALA BIO in the 4th quarter valued at approximately $80,000. Finally, XTX Topco Ltd acquired a new position in shares of KALA BIO in the 2nd quarter valued at approximately $62,000. Institutional investors own 24.61% of the company’s stock.

KALA BIO Stock Down 2.9%

NASDAQ KALA opened at $1.35 on Friday. The company has a market capitalization of $25.10 million, a P/E ratio of -0.01 and a beta of -2.35. KALA BIO has a 12-month low of $1.30 and a 12-month high of $1,030.00. The firm has a 50-day moving average price of $2.71 and a two-hundred day moving average price of $13.53.

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

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.