LADENBURG THALM/SH SH Downgrades KALA BIO (NASDAQ:KALA) to Neutral

KALA BIO (NASDAQ:KALA) was downgraded by analysts at LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, Marketbeat Ratings reports.

Several other analysts have also recently weighed in on KALA. Oppenheimer lifted their price objective on KALA BIO from $15.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, September 11th. HC Wainwright boosted their price objective on shares of KALA BIO from $12.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Lifesci Capital raised KALA BIO to a “strong-buy” rating in a report on Wednesday, September 3rd. Mizuho started coverage on KALA BIO in a research note on Monday, September 8th. They issued an “outperform” rating and a $30.00 price target for the company. Finally, Wall Street Zen lowered KALA BIO from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, KALA BIO currently has an average rating of “Buy” and an average price target of $27.50.

KALA BIO Trading Down 92.5%

Shares of NASDAQ KALA traded down $17.63 during trading hours on Monday, hitting $1.43. The company’s stock had a trading volume of 13,773,189 shares, compared to its average volume of 167,615. The company has a debt-to-equity ratio of 3.19, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a market cap of $10.00 million, a price-to-earnings ratio of -0.20 and a beta of -1.82. KALA BIO has a 12 month low of $1.10 and a 12 month high of $20.60. The business has a 50-day simple moving average of $11.38 and a 200-day simple moving average of $6.91.

KALA BIO (NASDAQ:KALA) last posted its earnings results on Friday, August 8th. The company reported ($1.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.82) by $0.11. On average, analysts anticipate that KALA BIO will post -10.84 earnings per share for the current fiscal year.

Institutional Trading of KALA BIO

Institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd bought a new stake in shares of KALA BIO during the second quarter valued at approximately $62,000. Readystate Asset Management LP purchased a new position in KALA BIO in the first quarter worth $243,000. Geode Capital Management LLC grew its holdings in KALA BIO by 2.8% in the second quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock worth $268,000 after purchasing an additional 1,534 shares during the last quarter. AIGH Capital Management LLC grew its holdings in shares of KALA BIO by 61.9% during the first quarter. AIGH Capital Management LLC now owns 196,350 shares of the company’s stock valued at $1,125,000 after buying an additional 75,048 shares during the last quarter. Finally, Woodline Partners LP purchased a new stake in shares of KALA BIO during the first quarter valued at $1,483,000. Institutional investors own 24.61% of the company’s stock.

About KALA BIO

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.