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

Shares of KALA BIO, Inc. (NASDAQ:KALA) have been assigned a consensus rating of “Hold” from the six analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $1,018.75.

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of KALA BIO to a “sell” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a research note on Friday, March 27th.

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. Geode Capital Management LLC grew its stake in KALA BIO by 2.8% in the 2nd 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 in the last quarter. XTX Topco Ltd purchased a new position in KALA BIO in the 2nd quarter worth approximately $62,000. Virtu Financial LLC purchased a new position in KALA BIO in the 4th quarter worth approximately $48,000. Jane Street Group LLC purchased a new position in KALA BIO in the 4th quarter worth approximately $80,000. Finally, Woodline Partners LP purchased a new position in KALA BIO in the 1st quarter worth approximately $1,483,000. Hedge funds and other institutional investors own 24.61% of the company’s stock.

KALA BIO Trading Down 5.2%

Shares of NASDAQ:KALA opened at $2.93 on Friday. The company has a 50 day moving average of $9.05 and a 200 day moving average of $23.47. The stock has a market cap of $54.47 million, a P/E ratio of -0.02 and a beta of -2.23. KALA BIO has a 12 month low of $2.85 and a 12 month high of $1,030.00.

KALA BIO (NASDAQ:KALA) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.14) EPS for the quarter.

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.