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

KALA BIO, Inc. (NASDAQ:KALA) has received an average recommendation of “Hold” from the six brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $20.3750.

A number of research analysts have recently issued reports on KALA shares. Mizuho set a $1.50 price target on shares of KALA BIO in a research report on Tuesday, September 30th. LADENBURG THALM/SH SH downgraded shares of KALA BIO from a “buy” rating to a “neutral” rating in a research note on Monday, September 29th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a research report on Monday, December 29th. Lifesci Capital lowered KALA BIO from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Finally, HC Wainwright reissued a “neutral” rating on shares of KALA BIO in a research report on Monday, September 29th.

Insiders Place Their Bets

In other KALA BIO news, CFO Mary Reumuth sold 32,230 shares of the business’s stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $0.83, for a total value of $26,750.90. Following the transaction, the chief financial officer directly owned 29,873 shares of the company’s stock, valued at approximately $24,794.59. The trade was a 51.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Todd Bazemore sold 47,768 shares of the stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $0.83, for a total value of $39,647.44. Following the transaction, the director owned 35,932 shares in the company, valued at $29,823.56. The trade was a 57.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 303,413 shares of company stock valued at $248,725. Company insiders own 2.24% of the company’s stock.

Institutional Investors Weigh In On KALA BIO

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AIGH Capital Management LLC boosted its position in shares of KALA BIO by 52.8% during the 2nd quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock worth $1,428,000 after purchasing an additional 103,650 shares in the last quarter. Geode Capital Management LLC raised its stake 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 buying an additional 1,534 shares during the period. XTX Topco Ltd bought a new position in KALA BIO in the second quarter worth approximately $62,000. Finally, Woodline Partners LP bought a new position in KALA BIO in the first quarter worth approximately $1,483,000. 24.61% of the stock is owned by institutional investors.

KALA BIO Trading Down 5.1%

Shares of KALA opened at $0.60 on Friday. The stock’s 50-day moving average price is $0.70 and its two-hundred day moving average price is $5.01. KALA BIO has a 12 month low of $0.51 and a 12 month high of $20.60. The company has a market capitalization of $5.90 million, a PE ratio of -0.10 and a beta of -2.43.

KALA BIO (NASDAQ:KALA) last issued its quarterly earnings data on Wednesday, November 19th. The company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.06). Equities research analysts predict that KALA BIO will post -10.84 EPS for the current fiscal year.

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.