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

Shares of KALA BIO, Inc. (NASDAQ:KALA) have received an average recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $1,018.75.

Several research analysts have recently weighed in on KALA shares. Wall Street Zen raised shares of KALA BIO to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of KALA BIO in a report on Friday, March 27th.

Institutional Trading of KALA BIO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KALA. Woodline Partners LP purchased a new stake in KALA BIO during the first quarter valued at approximately $1,483,000. Geode Capital Management LLC increased its holdings in KALA BIO by 2.8% during the second quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock valued at $268,000 after buying an additional 1,534 shares during the last quarter. XTX Topco Ltd purchased a new stake in KALA BIO during the second quarter valued at approximately $62,000. Jane Street Group LLC purchased a new stake in KALA BIO during the fourth quarter valued at approximately $80,000. Finally, Baker BROS. Advisors LP increased its holdings in 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 buying an additional 818,962 shares during the last quarter. 24.61% of the stock is owned by hedge funds and other institutional investors.

KALA BIO Stock Down 6.5%

KALA opened at $2.43 on Friday. The firm has a 50 day moving average price of $7.84 and a 200-day moving average price of $22.17. KALA BIO has a twelve month low of $2.40 and a twelve month high of $1,030.00. The stock has a market capitalization of $45.17 million, a price-to-earnings ratio of -0.03 and a beta of -2.23.

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