KALA BIO, Inc. (NASDAQ:KALA) Receives $20.38 Consensus Price Target from Analysts

KALA BIO, Inc. (NASDAQ:KALA) has received a consensus recommendation of “Hold” from the six research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $20.3750.

Several analysts have recently commented on KALA shares. LADENBURG THALM/SH SH lowered shares of KALA BIO from a “buy” rating to a “neutral” rating in a research report on Monday, September 29th. Lifesci Capital cut KALA BIO from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Weiss Ratings restated a “sell (d-)” rating on shares of KALA BIO in a research report on Monday, December 8th. Mizuho set a $1.50 price target on KALA BIO in a report on Tuesday, September 30th. Finally, HC Wainwright reissued a “neutral” rating on shares of KALA BIO in a research report on Monday, September 29th.

Insider Activity at KALA BIO

In other KALA BIO news, Director Mark T. Iwicki sold 154,894 shares of KALA BIO stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $0.81, for a total transaction of $125,464.14. Following the completion of the sale, the director directly owned 103,540 shares in the company, valued at $83,867.40. This trade represents a 59.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Romulus K. Brazzell sold 46,748 shares of the business’s stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $0.83, for a total transaction of $38,800.84. Following the completion of the sale, the insider directly owned 35,952 shares in the company, valued at $29,840.16. This trade represents a 56.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,033,821 shares of company stock valued at $1,304,385 over the last quarter. 8.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Woodline Partners LP acquired a new stake in KALA BIO during the 1st quarter worth approximately $1,483,000. AIGH Capital Management LLC increased its position in shares of KALA BIO by 52.8% during the second quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock worth $1,428,000 after acquiring an additional 103,650 shares during the period. ADAR1 Capital Management LLC raised its stake in shares of KALA BIO by 35.7% in the first quarter. ADAR1 Capital Management LLC now owns 298,955 shares of the company’s stock valued at $1,713,000 after acquiring an additional 78,582 shares in the last quarter. XTX Topco Ltd purchased a new position in KALA BIO in the second quarter valued at $62,000. Finally, Geode Capital Management LLC boosted its holdings in KALA BIO by 2.8% in the second quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock valued at $268,000 after purchasing an additional 1,534 shares during the period. 24.61% of the stock is currently owned by hedge funds and other institutional investors.

KALA BIO Trading Up 9.4%

Shares of KALA stock opened at $0.63 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 3.19. KALA BIO has a twelve month low of $0.51 and a twelve month high of $20.60. The company’s 50-day moving average price is $0.84 and its 200-day moving average price is $5.52. The stock has a market cap of $6.22 million, a price-to-earnings ratio of -0.11 and a beta of -2.50.

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