KALA BIO, Inc. (NASDAQ:KALA) Receives $75.00 Consensus Target Price from Analysts

Shares of KALA BIO, Inc. (NASDAQ:KALA) have earned an average recommendation of “Reduce” from the five research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $75.00.

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

Hedge Funds Weigh In On KALA BIO

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of KALA BIO during the 2nd quarter worth approximately $124,000. Renaissance Technologies LLC grew its stake in shares of 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 in the last quarter. 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 worth $1,003,000 after buying an additional 818,962 shares during the last quarter. Institutional investors own 24.61% of the company’s stock.

KALA BIO Stock Performance

KALA stock opened at $0.54 on Friday. The business’s 50-day moving average price is $0.72 and its two-hundred day moving average price is $4.35. The firm has a market cap of $10.42 million, a PE ratio of -0.02 and a beta of -2.28. KALA BIO has a 1-year low of $0.49 and a 1-year high of $993.95.

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

About KALA BIO

KALA BIO, Inc is a clinical-stage biotechnology company focused on developing regenerative therapies for rare diseases. The company uses its secretome-based platform, which is designed to harness biologically active proteins, growth factors and other components released by human cells, to develop treatments intended to repair damaged tissue and address underlying disease mechanisms.

KALA BIO’s lead investigational product is KPI-012, an engineered human mesenchymal stem cell secretome being developed for persistent corneal epithelial defects (PCED) associated with limbal stem cell deficiency.