Brokerages Set KALA BIO, Inc. (NASDAQ:KALA) PT at $1,018.75

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

KALA has been the subject of a number of research reports. Weiss Ratings restated a “sell (e+)” rating on shares of KALA BIO in a research note on Wednesday, June 24th. Wall Street Zen upgraded shares of KALA BIO from a “sell” rating to a “hold” rating in a research note on Sunday, May 24th.

Institutional Trading of KALA BIO

Institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new position in KALA BIO in the 2nd quarter valued at $62,000. Geode Capital Management LLC boosted its position in shares of 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 acquiring an additional 1,534 shares during the period. Virtu Financial LLC acquired a new position in shares of KALA BIO in the fourth quarter valued at about $48,000. Jane Street Group LLC acquired a new position in shares of KALA BIO in the fourth quarter valued at about $80,000. Finally, Woodline Partners LP bought a new position in KALA BIO during the first quarter worth about $1,483,000. 24.61% of the stock is currently owned by institutional investors.

KALA BIO Stock Performance

Shares of NASDAQ KALA opened at $1.51 on Friday. The stock has a 50 day moving average price of $2.88 and a 200 day moving average price of $13.94. KALA BIO has a 52 week low of $1.44 and a 52 week high of $1,030.00. The stock has a market capitalization of $28.07 million, a PE ratio of -0.02 and a beta of -2.35.

KALA BIO (NASDAQ:KALA) last issued its earnings results on Friday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($8.50) by $8.36.

KALA BIO Company Profile

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.