KALA BIO (NASDAQ:KALA) Downgraded to Hold Rating by Lifesci Capital

KALA BIO (NASDAQ:KALA) was downgraded by investment analysts at Lifesci Capital from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other brokerages have also commented on KALA. Oppenheimer increased their price target on shares of KALA BIO from $15.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, September 11th. Wall Street Zen lowered shares of KALA BIO from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Mizuho initiated coverage on shares of KALA BIO in a research note on Monday, September 8th. They issued an “outperform” rating and a $30.00 target price on the stock. LADENBURG THALM/SH SH lowered shares of KALA BIO from a “buy” rating to a “neutral” rating in a research note on Monday. Finally, HC Wainwright reiterated a “neutral” rating on shares of KALA BIO in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, KALA BIO currently has an average rating of “Hold” and a consensus price target of $27.50.

KALA BIO Stock Performance

Shares of KALA opened at $2.05 on Monday. The company’s fifty day moving average is $11.31 and its 200-day moving average is $6.88. KALA BIO has a 12 month low of $1.10 and a 12 month high of $20.60. The firm has a market cap of $14.39 million, a price-to-earnings ratio of -0.30 and a beta of -1.82. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 3.19.

KALA BIO (NASDAQ:KALA) last announced its quarterly earnings results on Friday, August 8th. The company reported ($1.71) EPS for the quarter, topping the consensus estimate of ($1.82) by $0.11. Equities analysts expect that KALA BIO will post -10.84 EPS for the current fiscal year.

Institutional Trading of KALA BIO

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position 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 purchasing an additional 1,534 shares during the last quarter. XTX Topco Ltd acquired a new stake in KALA BIO in the 2nd quarter worth $62,000. Readystate Asset Management LP acquired a new stake in KALA BIO in the 1st quarter worth $243,000. AIGH Capital Management LLC grew its position in KALA BIO by 61.9% in the 1st quarter. AIGH Capital Management LLC now owns 196,350 shares of the company’s stock worth $1,125,000 after purchasing an additional 75,048 shares during the last quarter. Finally, ADAR1 Capital Management LLC grew its position in KALA BIO by 35.7% in the 1st quarter. ADAR1 Capital Management LLC now owns 298,955 shares of the company’s stock worth $1,713,000 after purchasing an additional 78,582 shares during the last quarter. 24.61% of the stock is currently owned by institutional investors and hedge funds.

About KALA BIO

KALA BIO, Inc, a clinical-stage biopharmaceutical company, engages in the research, development, and commercialization of innovative therapies for rare and severe eye diseases in the United States. The company's product candidates include KPI-012, which is in Phase 2b clinical trial for the treatment of persistent corneal epithelial defects.