KALA BIO, Inc. (NASDAQ:KALA) Given Average Recommendation of “Hold” by Brokerages

Shares of KALA BIO, Inc. (NASDAQ:KALA) have been assigned a consensus recommendation of “Hold” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $1,158.3333.

Several equities research analysts have recently issued reports on KALA shares. Weiss Ratings restated a “sell (e+)” rating on shares of KALA BIO in a research note on Wednesday, June 24th. Wall Street Zen upgraded shares of KALA BIO from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th.

Institutional Investors Weigh In On KALA BIO

A number of institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new stake in shares of KALA BIO in the 2nd quarter worth approximately $62,000. Geode Capital Management LLC increased its position in shares of 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 purchasing an additional 1,534 shares during the period. BlackRock Inc. bought a new stake in shares of KALA BIO during the second quarter valued at approximately $124,000. Virtu Financial LLC acquired a new position in shares of KALA BIO in the fourth quarter valued at $48,000. Finally, Jane Street Group LLC acquired a new position in shares of KALA BIO in the fourth quarter valued at $80,000. 24.61% of the stock is owned by institutional investors and hedge funds.

KALA BIO Stock Performance

KALA BIO stock opened at $0.69 on Monday. KALA BIO has a 52 week low of $0.59 and a 52 week high of $1,030.00. The firm has a market capitalization of $13.35 million, a PE ratio of -0.02 and a beta of -2.26. The business’s 50-day simple moving average is $1.17 and its 200-day simple moving average is $6.47.

KALA BIO (NASDAQ:KALA) last announced its earnings results on Wednesday, August 19th. The company reported ($21.32) earnings per share for the quarter, missing the consensus estimate of ($6.00) by ($15.32).

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.