KALA BIO (NASDAQ:KALA) Given Buy Rating at HC Wainwright

KALA BIO (NASDAQ:KALA)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $15.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 223.97% from the stock’s current price.

KALA BIO Stock Performance

NASDAQ KALA opened at $4.63 on Friday. The stock has a market capitalization of $28.20 million, a price-to-earnings ratio of -0.37 and a beta of -1.70. The business’s 50 day moving average is $7.50 and its two-hundred day moving average is $6.78. KALA BIO has a 12-month low of $4.21 and a 12-month high of $11.20. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 3.18.

KALA BIO (NASDAQ:KALA) last announced its quarterly earnings data on Friday, March 28th. The company reported ($1.74) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.28) by $0.54. Research analysts expect that KALA BIO will post -10.84 EPS for the current year.

Insider Buying and Selling

In other KALA BIO news, CEO Mark T. Iwicki sold 5,779 shares of the business’s 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 sale, the chief executive officer now directly owns 280,076 shares in the company, valued at approximately $2,136,979.88. The trade was a 2.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 9,506 shares of company stock valued at $72,531. Corporate insiders own 8.32% of the company’s stock.

Institutional Investors Weigh In On KALA BIO

A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in KALA BIO by 28.4% during the fourth quarter. Geode Capital Management LLC now owns 47,642 shares of the company’s stock worth $331,000 after acquiring an additional 10,526 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of KALA BIO by 10.0% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 178,934 shares of the company’s stock worth $1,242,000 after purchasing an additional 16,271 shares during the last quarter. AIGH Capital Management LLC purchased a new stake in KALA BIO in the 4th quarter valued at approximately $842,000. SR One Capital Management LP grew its holdings in KALA BIO by 35.0% during the 4th quarter. SR One Capital Management LP now owns 598,940 shares of the company’s stock valued at $4,157,000 after buying an additional 155,279 shares during the last quarter. Finally, Silverarc Capital Management LLC purchased a new stake in shares of KALA BIO in the fourth quarter valued at $1,604,000. 24.61% of the stock is owned by institutional investors and hedge funds.

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.