KALA BIO, Inc. (NASDAQ:KALA) Stock Has Average Target Price of $75.00 According to Brokerages

Shares of KALA BIO, Inc. (NASDAQ:KALA) have been given an average rating of “Reduce” by the five research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $75.00.

A number of brokerages have recently issued reports on KALA. Wall Street Zen upgraded KALA BIO from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a research report on Monday.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. 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 valued at $72,000 after acquiring an additional 376,612 shares during the last quarter. BlackRock Inc. purchased a new position in KALA BIO in the second quarter worth $124,000. Finally, Baker BROS. Advisors LP grew its holdings in KALA BIO by 83.1% in the fourth quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock worth $1,003,000 after purchasing an additional 818,962 shares during the last quarter. Hedge funds and other institutional investors own 24.61% of the company’s stock.

KALA BIO Stock Performance

KALA BIO stock opened at $0.56 on Friday. The company has a market capitalization of $10.83 million, a PE ratio of -0.02 and a beta of -2.28. The company has a 50 day moving average price of $0.69 and a 200-day moving average price of $3.93. KALA BIO has a fifty-two week low of $0.49 and a fifty-two week high of $988.50.

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

About KALA BIO

KALA BIO, Inc is a clinical-stage biotechnology company focused on developing regenerative therapies for rare diseases. The company uses its secretome-based platform, which is designed to harness biologically active proteins, growth factors and other components released by human cells, to develop treatments intended to repair damaged tissue and address underlying disease mechanisms.

KALA BIO’s lead investigational product is KPI-012, an engineered human mesenchymal stem cell secretome being developed for persistent corneal epithelial defects (PCED) associated with limbal stem cell deficiency.