KALA BIO, Inc. (NASDAQ:KALA – Get Free Report) has earned an average rating of “Hold” from the six research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $1,018.75.
Several equities analysts have commented on KALA shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of KALA BIO in a report on Friday, March 27th. Wall Street Zen upgraded KALA BIO from a “sell” rating to a “hold” rating in a report on Sunday, May 24th.
Check Out Our Latest Research Report on KALA BIO
KALA BIO Stock Up 6.5%
KALA BIO (NASDAQ:KALA – Get Free Report) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($8.50) by $8.36.
Hedge Funds Weigh In On KALA BIO
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baker BROS. Advisors LP grew its holdings in KALA BIO by 83.1% during the fourth quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock valued at $1,003,000 after purchasing an additional 818,962 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of KALA BIO by 920.7% in the first quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock worth $72,000 after acquiring an additional 376,612 shares during the last quarter. Woodline Partners LP acquired a new stake in shares of KALA BIO in the first quarter worth $1,483,000. Jane Street Group LLC acquired a new stake in shares of KALA BIO in the fourth quarter worth $80,000. Finally, Virtu Financial LLC acquired a new stake in shares of KALA BIO in the fourth quarter worth $48,000. Institutional investors and hedge funds own 24.61% of the company’s stock.
About KALA BIO
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.
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