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

Shares of KALA BIO, Inc. (NASDAQ:KALA) have received a consensus recommendation of “Hold” from the six brokerages that are covering the company, Marketbeat.com reports. One equities research 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 12 month price objective among brokers that have issued a report on the stock in the last year is $1,158.3333.

A number of research firms have weighed in on KALA. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a research note on Wednesday, June 24th. Wall Street Zen cut KALA BIO from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th.

Hedge Funds Weigh In On KALA BIO

Large investors have recently bought and sold shares of the company. Baker BROS. Advisors LP boosted its stake in shares of KALA BIO by 83.1% during the fourth quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock valued at $1,003,000 after purchasing an additional 818,962 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of KALA BIO by 920.7% in the first quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock valued at $72,000 after buying an additional 376,612 shares during the period. Woodline Partners LP acquired a new position in shares of KALA BIO in the first quarter valued at approximately $1,483,000. Jane Street Group LLC acquired a new position in shares of KALA BIO in the fourth quarter valued at approximately $80,000. Finally, Virtu Financial LLC bought a new position in KALA BIO in the 4th quarter valued at approximately $48,000. 24.61% of the stock is currently owned by institutional investors.

KALA BIO Trading Up 2.0%

Shares of KALA BIO stock opened at $0.67 on Thursday. The firm has a market capitalization of $13.02 million, a PE ratio of -0.01 and a beta of -2.35. The firm’s 50 day moving average is $1.93 and its 200 day moving average is $10.61. KALA BIO has a 1 year low of $0.59 and a 1 year high of $1,030.00.

KALA BIO (NASDAQ:KALA) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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.