KALA BIO, Inc. (NASDAQ:KALA) Receives $1,018.75 Consensus Target Price from Brokerages

KALA BIO, Inc. (NASDAQ:KALA) has received a consensus recommendation of “Hold” from the six brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $1,158.3333.

KALA has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a research report on Wednesday, June 24th. Wall Street Zen cut shares of KALA BIO from a “hold” rating to a “sell” rating in a research report on Sunday.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in 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 purchasing an additional 1,534 shares in the last quarter. XTX Topco Ltd acquired a new stake in KALA BIO in the second quarter valued at approximately $62,000. Virtu Financial LLC bought a new stake in shares of KALA BIO during the fourth quarter worth $48,000. Jane Street Group LLC acquired a new position in shares of KALA BIO during the fourth quarter worth $80,000. Finally, Woodline Partners LP acquired a new position in shares of KALA BIO during the first quarter worth $1,483,000. 24.61% of the stock is owned by institutional investors.

KALA BIO Trading Down 13.0%

NASDAQ KALA traded down $0.17 during midday trading on Friday, hitting $1.18. The company had a trading volume of 318,413 shares, compared to its average volume of 178,164. The firm has a 50-day moving average price of $2.62 and a 200-day moving average price of $13.44. The company has a market capitalization of $21.84 million, a PE ratio of -0.01 and a beta of -2.35. KALA BIO has a twelve month low of $1.16 and a twelve month high of $1,030.00.

KALA BIO (NASDAQ:KALA) last released its earnings results on Friday, May 15th. The company reported ($0.14) earnings per share (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.