Analysts Set KALA BIO, Inc. (NASDAQ:KALA) Target Price at $20.38

KALA BIO, Inc. (NASDAQ:KALA) has received a consensus recommendation of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $20.3750.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of KALA BIO in a research report on Monday, December 29th.

Institutional Trading of KALA BIO

Institutional investors and hedge funds have recently made changes to their positions in the business. AIGH Capital Management LLC increased its stake in KALA BIO by 52.8% in the 2nd quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock worth $1,428,000 after buying an additional 103,650 shares during the period. Geode Capital Management LLC grew its stake in KALA BIO by 2.8% in the second 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. Woodline Partners LP purchased a new position in KALA BIO during the 1st quarter worth $1,483,000. Finally, XTX Topco Ltd bought a new stake in KALA BIO during the 2nd quarter valued at $62,000. 24.61% of the stock is currently owned by institutional investors.

KALA BIO Price Performance

Shares of NASDAQ KALA opened at $0.42 on Thursday. KALA BIO has a 1-year low of $0.38 and a 1-year high of $20.60. The business’s 50 day moving average is $0.63 and its two-hundred day moving average is $4.39. The stock has a market capitalization of $4.08 million, a P/E ratio of -0.07 and a beta of -2.43.

KALA BIO (NASDAQ:KALA) last released its earnings results on Wednesday, November 19th. The company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.06). As a group, equities research analysts anticipate that KALA BIO will post -10.84 earnings per share for the current fiscal year.

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.