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 report released on Monday, Marketbeat.com reports.

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

KALA BIO Stock Performance

Shares of NASDAQ KALA traded down $17.63 during trading hours on Monday, reaching $1.43. 13,773,189 shares of the stock were exchanged, compared to its average volume of 167,615. The firm has a market capitalization of $10.00 million, a price-to-earnings ratio of -0.20 and a beta of -1.82. The company has a debt-to-equity ratio of 3.19, a quick ratio of 2.10 and a current ratio of 2.10. KALA BIO has a 52 week low of $1.10 and a 52 week high of $20.60. The stock’s fifty day simple moving average is $11.38 and its 200 day simple moving average is $6.91.

KALA BIO (NASDAQ:KALA) last announced its earnings results on Friday, August 8th. The company reported ($1.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.82) by $0.11. Sell-side analysts predict that KALA BIO will post -10.84 EPS for the current year.

Hedge Funds Weigh In On KALA BIO

Hedge funds have recently added to or reduced their stakes in the stock. Woodline Partners LP purchased a new position in shares of KALA BIO in the 1st quarter worth approximately $1,483,000. AIGH Capital Management LLC lifted its position in shares of KALA BIO by 52.8% during the second quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock worth $1,428,000 after acquiring an additional 103,650 shares in the last quarter. ADAR1 Capital Management LLC raised its position in shares of KALA BIO by 35.7% in the first quarter. ADAR1 Capital Management LLC now owns 298,955 shares of the company’s stock worth $1,713,000 after buying an additional 78,582 shares in the last quarter. Readystate Asset Management LP purchased a new stake in shares of KALA BIO in the first quarter worth $243,000. Finally, XTX Topco Ltd purchased a new stake in shares of KALA BIO in the second quarter worth $62,000. Institutional investors and hedge funds own 24.61% of the company’s stock.

KALA BIO Company Profile

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.