Brokerages Set KALA BIO, Inc. (NASDAQ:KALA) Target Price at $20.38

Shares of KALA BIO, Inc. (NASDAQ:KALA) have been given a consensus rating of “Hold” by the six analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $20.3750.

KALA has been the topic of a number of research reports. LADENBURG THALM/SH SH downgraded shares of KALA BIO from a “buy” rating to a “neutral” rating in a report on Monday, September 29th. Mizuho set a $1.50 price target on shares of KALA BIO in a research report on Tuesday, September 30th. HC Wainwright restated a “neutral” rating on shares of KALA BIO in a report on Monday, September 29th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a report on Monday, December 29th. Finally, Lifesci Capital cut KALA BIO from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th.

Insider Activity

In related news, insider Romulus K. Brazzell sold 46,748 shares of the firm’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 value of $38,800.84. Following the completion of the transaction, the insider owned 35,952 shares of the company’s stock, valued at approximately $29,840.16. This trade represents a 56.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mary Reumuth sold 32,230 shares of the business’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $0.83, for a total transaction of $26,750.90. Following the sale, the chief financial officer directly owned 29,873 shares in the company, valued at approximately $24,794.59. This trade represents a 51.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 303,413 shares of company stock worth $248,725 in the last quarter. Insiders own 2.24% of the company’s stock.

Hedge Funds Weigh In On KALA BIO

Large investors have recently made changes to their positions in the business. XTX Topco Ltd acquired a new position in KALA BIO in the 2nd quarter valued at approximately $62,000. Geode Capital Management LLC increased its stake in shares of KALA BIO by 2.8% in the second quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock worth $268,000 after acquiring an additional 1,534 shares during the last quarter. AIGH Capital Management LLC raised its holdings 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 in the last quarter. Finally, Woodline Partners LP acquired a new stake in KALA BIO during the first quarter valued at $1,483,000. Institutional investors and hedge funds own 24.61% of the company’s stock.

KALA BIO Price Performance

Shares of KALA BIO stock traded up $0.07 on Friday, hitting $0.68. The company had a trading volume of 4,463,126 shares, compared to its average volume of 2,121,241. KALA BIO has a 52 week low of $0.51 and a 52 week high of $20.60. The company has a market cap of $6.64 million, a PE ratio of -0.11 and a beta of -2.43. The business has a 50-day simple moving average of $0.70 and a 200-day simple moving average of $4.99.

KALA BIO (NASDAQ:KALA) last released its earnings results on Wednesday, November 19th. The company reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.06). On average, equities research analysts predict that KALA BIO will post -10.84 earnings per share for the current fiscal year.

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.