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

Shares of KALA BIO, Inc. (NASDAQ:KALA) have earned an average recommendation of “Hold” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities 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 1-year price target among brokerages that have covered the stock in the last year is $1,158.3333.

A number of brokerages have recently issued reports on KALA. Wall Street Zen upgraded shares of KALA BIO from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of KALA BIO in a research report on Wednesday, June 24th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. XTX Topco Ltd purchased a new stake in shares of KALA BIO in the second quarter valued at about $62,000. Geode Capital Management LLC grew its holdings in shares of KALA BIO by 2.8% during the second 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 last quarter. BlackRock Inc. purchased a new position in shares of KALA BIO during the second quarter worth about $124,000. Virtu Financial LLC acquired a new position in KALA BIO in the 4th quarter valued at about $48,000. Finally, Jane Street Group LLC purchased a new stake in KALA BIO during the 4th quarter valued at approximately $80,000. 24.61% of the stock is currently owned by institutional investors and hedge funds.

KALA BIO Stock Performance

KALA BIO stock opened at $0.69 on Monday. The company has a market capitalization of $13.35 million, a P/E ratio of -0.02 and a beta of -2.26. KALA BIO has a fifty-two week low of $0.59 and a fifty-two week high of $1,030.00. The stock has a 50-day simple moving average of $1.17 and a 200-day simple moving average of $6.37.

KALA BIO (NASDAQ:KALA) last released its quarterly earnings results on Wednesday, August 19th. The company reported ($21.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($6.00) by ($15.32).

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.