KALA BIO, Inc. (NASDAQ:KALA) Receives $20.38 Average Price Target from Brokerages

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

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of KALA BIO in a research report on Friday, March 27th.

KALA BIO Stock Down 12.7%

Shares of KALA opened at $0.15 on Tuesday. The business’s 50-day moving average price is $0.27 and its 200-day moving average price is $0.59. KALA BIO has a twelve month low of $0.15 and a twelve month high of $20.60. The stock has a market cap of $143.14 million, a PE ratio of -0.05 and a beta of -1.98.

KALA BIO (NASDAQ:KALA) last announced its quarterly earnings results on Wednesday, April 15th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $1.03.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KALA. Baker BROS. Advisors LP increased its position in shares of KALA BIO by 83.1% in the fourth quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock worth $1,003,000 after purchasing an additional 818,962 shares during the last quarter. Woodline Partners LP bought a new position in shares of KALA BIO in the first quarter worth approximately $1,483,000. Jane Street Group LLC bought a new position in shares of KALA BIO in the fourth quarter worth approximately $80,000. Virtu Financial LLC bought a new position in shares of KALA BIO in the fourth quarter worth approximately $48,000. Finally, XTX Topco Ltd bought a new position in shares of KALA BIO in the second quarter worth approximately $62,000. 24.61% of the stock is currently owned by institutional investors.

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.