Brokerages Set KALA BIO, Inc. (NASDAQ:KALA) Target Price at $1,158.33

Shares of KALA BIO, Inc. (NASDAQ:KALA) have been assigned a consensus recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat.com 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 target price among brokerages that have issued a report on the stock in the last year is $1,158.3333.

Several analysts recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of KALA BIO in a report on Wednesday, June 24th. Wall Street Zen lowered shares of KALA BIO from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th.

Institutional Trading of KALA BIO

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in KALA BIO during the fourth quarter worth $48,000. XTX Topco Ltd bought a new stake in shares of KALA BIO during the 2nd quarter valued at about $62,000. Renaissance Technologies LLC lifted its stake in KALA BIO by 920.7% in the first quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock valued at $72,000 after buying an additional 376,612 shares during the period. Jane Street Group LLC acquired a new stake in shares of KALA BIO during the 4th quarter worth approximately $80,000. Finally, Geode Capital Management LLC increased its stake in shares of KALA BIO by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock valued at $268,000 after acquiring an additional 1,534 shares in the last quarter. Institutional investors and hedge funds own 24.61% of the company’s stock.

KALA BIO Stock Down 5.7%

Shares of NASDAQ KALA opened at $0.70 on Thursday. The business’s 50 day moving average price is $1.76 and its two-hundred day moving average price is $9.54. The company has a market cap of $13.56 million, a PE ratio of -0.01 and a beta of -2.26. KALA BIO has a twelve month low of $0.59 and a twelve month high of $1,030.00.

KALA BIO (NASDAQ:KALA) last posted its earnings results on Friday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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.