KALA BIO, Inc. (NASDAQ:KALA) Receives Consensus Rating of “Hold” from Analysts

Shares of KALA BIO, Inc. (NASDAQ:KALA) have been given an average recommendation of “Hold” by the six analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $1,018.75.

Several research analysts recently weighed in on the company. Wall Street Zen raised KALA BIO from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a research report on Friday, March 27th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in KALA. Virtu Financial LLC purchased a new position in shares of KALA BIO in the 4th quarter worth $48,000. XTX Topco Ltd purchased a new position in shares of KALA BIO in the 2nd quarter worth $62,000. Renaissance Technologies LLC raised its position in shares of KALA BIO by 920.7% in the 1st quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock worth $72,000 after buying an additional 376,612 shares during the period. Jane Street Group LLC purchased a new position in shares of KALA BIO in the 4th quarter worth $80,000. Finally, Geode Capital Management LLC raised its position in shares of 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 buying an additional 1,534 shares during the period. 24.61% of the stock is owned by hedge funds and other institutional investors.

KALA BIO Stock Up 2.6%

Shares of KALA BIO stock opened at $2.35 on Wednesday. KALA BIO has a fifty-two week low of $2.03 and a fifty-two week high of $1,030.00. The firm has a market cap of $43.69 million, a PE ratio of -0.02 and a beta of -2.40. The business’s fifty day moving average is $5.52 and its two-hundred day moving average is $19.24.

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