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

Shares of KALA BIO, Inc. (NASDAQ:KALA) have received a consensus recommendation of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on 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 Monday, December 29th.

KALA BIO Stock Performance

NASDAQ:KALA opened at $0.28 on Monday. The firm has a market capitalization of $253.44 million, a price-to-earnings ratio of -0.05 and a beta of -2.37. KALA BIO has a 52-week low of $0.26 and a 52-week high of $20.60. The stock has a fifty day moving average of $0.50 and a 200 day moving average of $3.48.

Hedge Funds Weigh In On KALA BIO

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC bought a new position in shares of KALA BIO in the 4th quarter worth $80,000. Virtu Financial LLC purchased a new stake in shares of KALA BIO during the 4th quarter valued at $48,000. XTX Topco Ltd bought a new stake in shares of KALA BIO during the 2nd quarter worth $62,000. Geode Capital Management LLC lifted its holdings in shares of KALA BIO by 2.8% during the 2nd 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. Finally, Woodline Partners LP purchased a new position in KALA BIO in the first quarter worth $1,483,000. Hedge funds and other 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.