KALA BIO’s (KALA) “Buy” Rating Reiterated at HC Wainwright

KALA BIO (NASDAQ:KALA)‘s stock had its “buy” rating reissued by HC Wainwright in a report released on Thursday,Benzinga reports. They currently have a $15.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 101.61% from the company’s previous close.

KALA BIO Stock Performance

KALA stock opened at $7.44 on Thursday. The firm has a market cap of $45.31 million, a price-to-earnings ratio of -0.60 and a beta of -2.03. KALA BIO has a twelve month low of $4.21 and a twelve month high of $11.20. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 3.18. The business’s fifty day simple moving average is $7.51 and its two-hundred day simple moving average is $6.61.

KALA BIO (NASDAQ:KALA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.93) EPS for the quarter, topping the consensus estimate of ($2.43) by $0.50. Analysts predict that KALA BIO will post -10.84 earnings per share for the current year.

Insider Activity

In other news, CEO Mark T. Iwicki sold 5,779 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $7.63, for a total transaction of $44,093.77. Following the transaction, the chief executive officer now owns 280,076 shares of the company’s stock, valued at approximately $2,136,979.88. This represents a 2.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bros. Advisors Lp Baker acquired 310,559 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average price of $6.44 per share, with a total value of $1,999,999.96. Following the completion of the acquisition, the insider now directly owns 1,083,398 shares of the company’s stock, valued at $6,977,083.12. This represents a 40.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 9,506 shares of company stock valued at $72,531. Corporate insiders own 8.32% of the company’s stock.

Hedge Funds Weigh In On KALA BIO

An institutional investor recently raised its position in KALA BIO stock. Geode Capital Management LLC boosted its stake in shares of KALA BIO, Inc. (NASDAQ:KALA) by 28.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,642 shares of the company’s stock after buying an additional 10,526 shares during the period. Geode Capital Management LLC owned 0.78% of KALA BIO worth $331,000 as of its most recent filing with the Securities & Exchange Commission. 24.61% of the stock is currently owned by institutional investors.

About KALA BIO

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.