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

KALA BIO, Inc. (NASDAQ:KALA) has received an average recommendation of “Hold” from the six analysts that are currently covering the company, Marketbeat Ratings reports. One investment 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 12 month target price among brokerages that have issued a report on the stock in the last year is $1,018.75.

KALA has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of KALA BIO from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. Weiss Ratings reiterated a “sell (e+)” rating on shares of KALA BIO in a report on Wednesday, June 24th.

KALA BIO Price Performance

NASDAQ KALA opened at $1.68 on Friday. KALA BIO has a fifty-two week low of $1.62 and a fifty-two week high of $1,030.00. The business has a fifty day moving average of $3.11 and a 200-day moving average of $14.43. The stock has a market cap of $31.23 million, a price-to-earnings ratio of -0.02 and a beta of -2.35.

KALA BIO (NASDAQ:KALA) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($8.50) by $8.36.

Institutional Trading of KALA BIO

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Baker BROS. Advisors LP grew its stake in KALA BIO by 83.1% in the 4th quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock worth $1,003,000 after acquiring an additional 818,962 shares during the period. Renaissance Technologies LLC lifted its stake in shares of KALA BIO by 920.7% during the 1st quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock worth $72,000 after purchasing an additional 376,612 shares during the period. Woodline Partners LP purchased a new position in shares of KALA BIO during the 1st quarter worth $1,483,000. Jane Street Group LLC acquired a new stake in shares of KALA BIO during the fourth quarter worth $80,000. Finally, Virtu Financial LLC acquired a new stake in shares of KALA BIO during the fourth quarter worth $48,000. 24.61% of the stock is owned by hedge funds and other institutional investors.

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.