KALA BIO, Inc. (NASDAQ:KALA) Receives Average Recommendation of “Hold” from Analysts

Shares of KALA BIO, Inc. (NASDAQ:KALA) have earned a consensus recommendation of “Hold” from the six research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $20.3750.

A number of research firms have weighed in on KALA. Mizuho set a $1.50 price objective on KALA BIO in a research note on Tuesday, September 30th. HC Wainwright reissued a “neutral” rating on shares of KALA BIO in a research report on Monday, September 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of KALA BIO in a report on Thursday. LADENBURG THALM/SH SH downgraded shares of KALA BIO from a “buy” rating to a “neutral” rating in a research note on Monday, September 29th. Finally, Lifesci Capital lowered shares of KALA BIO from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th.

KALA BIO Stock Down 4.4%

KALA stock opened at $0.62 on Friday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 3.19. The firm has a 50-day moving average of $4.51 and a two-hundred day moving average of $5.90. KALA BIO has a 12 month low of $0.61 and a 12 month high of $20.60. The company has a market cap of $4.35 million, a price-to-earnings ratio of -0.09 and a beta of -2.22.

KALA BIO (NASDAQ:KALA) last posted its quarterly earnings results on Wednesday, November 19th. The company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.06). As a group, analysts forecast that KALA BIO will post -10.84 earnings per share for the current fiscal year.

Insider Transactions at KALA BIO

In related news, major shareholder Bros. Advisors Lp Baker sold 513,607 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $1.38, for a total value of $708,777.66. Following the completion of the transaction, the insider directly owned 46,480 shares in the company, valued at approximately $64,142.40. This represents a 91.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Romulus K. Brazzell sold 46,748 shares of the firm’s stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $0.83, for a total value of $38,800.84. Following the sale, the insider directly owned 35,952 shares of the company’s stock, valued at approximately $29,840.16. This trade represents a 56.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,033,821 shares of company stock valued at $1,304,385 in the last ninety days. 8.32% of the stock is currently owned by corporate insiders.

Institutional Trading of KALA BIO

Several institutional investors and hedge funds have recently bought and sold shares of KALA. Geode Capital Management LLC boosted its stake in KALA BIO by 2.8% during the second quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock worth $268,000 after buying an additional 1,534 shares during the period. XTX Topco Ltd acquired a new position in shares of KALA BIO in the 2nd quarter worth approximately $62,000. Readystate Asset Management LP purchased a new position in shares of KALA BIO during the 1st quarter worth approximately $243,000. ADAR1 Capital Management LLC increased its holdings in KALA BIO by 35.7% in the 1st quarter. ADAR1 Capital Management LLC now owns 298,955 shares of the company’s stock valued at $1,713,000 after purchasing an additional 78,582 shares during the last quarter. Finally, AIGH Capital Management LLC raised its position in KALA BIO by 52.8% in the second quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock valued at $1,428,000 after purchasing an additional 103,650 shares during the period. 24.61% of the stock is currently owned by hedge funds and other institutional investors.

KALA BIO Company Profile

KALA BIO, Inc, a clinical-stage biopharmaceutical company, engages in the research, development, and commercialization of innovative therapies for rare and severe eye diseases in the United States. The company's product candidates include KPI-012, which is in Phase 2b clinical trial for the treatment of persistent corneal epithelial defects.