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

HC Wainwright reaffirmed their buy rating on shares of KALA BIO (NASDAQ:KALA) in a research report released on Thursday,Benzinga reports. The firm currently has a $15.00 price objective on the stock.

KALA BIO Stock Up 4.3 %

Shares of NASDAQ KALA opened at $7.76 on Thursday. The company has a market cap of $47.26 million, a price-to-earnings ratio of -0.62 and a beta of -2.03. 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 has a 12 month low of $4.21 and a 12 month high of $11.20. The stock has a 50-day moving average price of $7.54 and a two-hundred day moving average price of $6.62.

KALA BIO (NASDAQ:KALA) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.93) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.43) by $0.50. As a group, analysts forecast that KALA BIO will post -10.84 earnings per share for the current fiscal year.

Insider Activity

In other KALA BIO news, CEO Mark T. Iwicki sold 5,779 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were 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 of the company’s stock, valued at $2,136,979.88. The trade was a 2.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Bros. Advisors Lp Baker purchased 310,559 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost of $6.44 per share, with a total value of $1,999,999.96. Following the purchase, the insider now directly owns 1,083,398 shares of the company’s stock, valued at approximately $6,977,083.12. The trade was a 40.18 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 9,506 shares of company stock worth $72,531. Insiders own 8.32% of the company’s stock.

Institutional Trading of KALA BIO

A number of institutional investors and hedge funds have recently bought and sold shares of KALA. Geode Capital Management LLC grew its position in shares of KALA BIO by 28.4% in the 4th quarter. Geode Capital Management LLC now owns 47,642 shares of the company’s stock valued at $331,000 after buying an additional 10,526 shares during the last quarter. AIGH Capital Management LLC acquired a new position in shares of KALA BIO in the fourth quarter worth approximately $842,000. Finally, SR One Capital Management LP boosted its holdings in KALA BIO by 35.0% in the fourth quarter. SR One Capital Management LP now owns 598,940 shares of the company’s stock valued at $4,157,000 after acquiring an additional 155,279 shares during the last quarter. 24.61% of the stock is currently owned by institutional investors and hedge funds.

KALA BIO Company Profile

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.