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

Shares of KALA BIO, Inc. (NASDAQ:KALA) have been assigned a consensus rating of “Hold” from the six ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $20.3750.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of KALA BIO in a report on Friday.

KALA BIO Stock Performance

KALA BIO stock opened at $0.17 on Friday. KALA BIO has a 52 week low of $0.16 and a 52 week high of $20.60. The stock has a market capitalization of $157.75 million, a P/E ratio of -0.03 and a beta of -2.37. The stock has a fifty day moving average of $0.37 and a 200-day moving average of $1.93.

Hedge Funds Weigh In On KALA BIO

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baker BROS. Advisors LP boosted its position in KALA BIO by 83.1% in 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 in the last quarter. Woodline Partners LP acquired a new position in shares of KALA BIO during the first quarter worth $1,483,000. Jane Street Group LLC bought a new position in shares of KALA BIO in the 4th quarter valued at $80,000. Virtu Financial LLC acquired a new stake in shares of KALA BIO during the 4th quarter valued at $48,000. Finally, XTX Topco Ltd acquired a new stake in shares of KALA BIO during the 2nd quarter valued at $62,000. Institutional investors own 24.61% of the company’s stock.

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.