KALA BIO, Inc. (NASDAQ:KALA) Given Consensus Recommendation of “Hold” by Analysts

KALA BIO, Inc. (NASDAQ:KALA) has been given a consensus rating of “Hold” by the six analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $20.3750.

A number of analysts have commented on the company. Mizuho set a $1.50 price objective on KALA BIO in a research report on Tuesday, September 30th. Weiss Ratings restated a “sell (d-)” rating on shares of KALA BIO in a research report on Monday, December 8th. HC Wainwright reaffirmed a “neutral” rating on shares of KALA BIO in a research report on Monday, September 29th. 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, Oppenheimer boosted their price target on shares of KALA BIO from $15.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, September 11th.

KALA BIO Stock Performance

NASDAQ KALA opened at $0.56 on Wednesday. The company’s fifty day moving average is $0.89 and its two-hundred day moving average is $5.59. KALA BIO has a 52-week low of $0.55 and a 52-week high of $20.60. The company has a debt-to-equity ratio of 3.19, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $5.46 million, a price-to-earnings ratio of -0.09 and a beta of -2.50.

KALA BIO (NASDAQ:KALA) last released its earnings results on Wednesday, November 19th. The company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.06). Equities research analysts forecast that KALA BIO will post -10.84 EPS for the current year.

Insider Transactions at KALA BIO

In other KALA BIO news, CFO Mary Reumuth sold 32,230 shares of the firm’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $0.83, for a total transaction of $26,750.90. Following the completion of the transaction, the chief financial officer owned 29,873 shares in the company, valued at $24,794.59. This trade represents a 51.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Bros. Advisors Lp Baker sold 513,607 shares of KALA BIO stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $1.38, for a total value of $708,777.66. Following the sale, the insider directly owned 46,480 shares in the company, valued at $64,142.40. The trade was a 91.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,033,821 shares of company stock valued at $1,304,385. Corporate insiders own 8.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. ADAR1 Capital Management LLC boosted its stake in shares of 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 in the last quarter. AIGH Capital Management LLC lifted its holdings in KALA BIO by 52.8% during the 2nd 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 last quarter. Woodline Partners LP acquired a new position in KALA BIO in the first quarter valued at about $1,483,000. Geode Capital Management LLC boosted its position in KALA BIO by 2.8% in the second quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock valued at $268,000 after buying an additional 1,534 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in KALA BIO during the second quarter worth about $62,000. 24.61% of the stock is currently owned by institutional investors and hedge funds.

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.