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

KALA BIO, Inc. (NASDAQ:KALA) has been assigned a consensus rating of “Hold” from the six ratings firms that are covering the company, MarketBeat Ratings reports. One 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 12 month target price among brokerages that have issued ratings on the stock in the last year is $1,158.3333.

KALA has been the topic of several analyst reports. Wall Street Zen upgraded shares of KALA BIO from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a research report on Wednesday, June 24th.

KALA BIO Price Performance

Shares of NASDAQ:KALA opened at $0.82 on Monday. KALA BIO has a 1-year low of $0.59 and a 1-year high of $1,030.00. The business has a fifty day moving average price of $1.41 and a 200-day moving average price of $7.11. The company has a market capitalization of $15.86 million, a PE ratio of -0.03 and a beta of -2.26.

KALA BIO (NASDAQ:KALA) last announced its quarterly earnings results on Wednesday, August 19th. The company reported ($21.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($6.00) by ($15.32).

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of KALA. XTX Topco Ltd purchased a new stake in shares of KALA BIO during the second quarter valued at $62,000. Geode Capital Management LLC increased its holdings in KALA BIO by 2.8% in 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 in the last quarter. BlackRock Inc. purchased a new position in KALA BIO in the 2nd quarter worth about $124,000. Virtu Financial LLC purchased a new position in KALA BIO in the 4th quarter worth about $48,000. Finally, Jane Street Group LLC bought a new position in KALA BIO during the 4th quarter valued at about $80,000. Hedge funds and other institutional investors own 24.61% of the company’s stock.

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.