Wall Street Zen upgraded shares of KALA BIO (NASDAQ:KALA – Free Report) from a sell rating to a hold rating in a report released on Saturday morning.
Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of KALA BIO in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $1,158.33.
Get Our Latest Stock Analysis on KALA
KALA BIO Stock Up 1.5%
KALA BIO (NASDAQ:KALA – Get Free Report) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($8.50) by $8.36.
Institutional Investors Weigh In On KALA BIO
Large investors have recently added to or reduced their stakes in the business. Baker BROS. Advisors LP grew its position 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 worth $1,003,000 after buying an additional 818,962 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of 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 acquiring an additional 376,612 shares in the last quarter. Woodline Partners LP bought a new stake in shares of KALA BIO during the 1st quarter valued at about $1,483,000. Jane Street Group LLC purchased a new position in shares of KALA BIO during the fourth quarter worth about $80,000. Finally, Virtu Financial LLC purchased a new position in shares of KALA BIO during the fourth quarter worth about $48,000. Institutional investors 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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