Analysts Set KALA BIO, Inc. (NASDAQ:KALA) Target Price at $75.00

Shares of KALA BIO, Inc. (NASDAQ:KALA – Get Free Report) have been given an average recommendation of “Reduce” by the five brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $75.00.

Several analysts have recently commented on KALA shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of KALA BIO in a research report on Wednesday, June 24th. Wall Street Zen raised KALA BIO from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th.

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Institutional Trading of KALA BIO

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in KALA BIO during the 2nd quarter worth about $124,000. Renaissance Technologies LLC raised its stake in KALA BIO by 920.7% in the 1st quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock valued at $72,000 after purchasing an additional 376,612 shares during the last quarter. Finally, Baker BROS. Advisors LP lifted its holdings in KALA BIO by 83.1% in the 4th 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 in the last quarter. 24.61% of the stock is currently owned by hedge funds and other institutional investors.

KALA BIO Stock Performance

KALA BIO stock opened at $0.60 on Friday. The firm has a market capitalization of $11.58 million, a price-to-earnings ratio of -0.02 and a beta of -2.28. KALA BIO has a fifty-two week low of $0.49 and a fifty-two week high of $988.50. The stock’s fifty day moving average is $0.71 and its two-hundred day moving average is $4.11.

KALA BIO (NASDAQ:KALA – Get Free Report) last released its quarterly earnings results on Wednesday, August 19th. The company reported ($21.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($6.00) by ($15.32).

KALA BIO Company Profile

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KALA BIO, Inc is a clinical-stage biotechnology company focused on developing regenerative therapies for rare diseases. The company uses its secretome-based platform, which is designed to harness biologically active proteins, growth factors and other components released by human cells, to develop treatments intended to repair damaged tissue and address underlying disease mechanisms.

KALA BIO’s lead investigational product is KPI-012, an engineered human mesenchymal stem cell secretome being developed for persistent corneal epithelial defects (PCED) associated with limbal stem cell deficiency.

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