KALA BIO (NASDAQ:KALA) Downgraded to Hold Rating by Lifesci Capital

Key Points

• KALA BIO has been downgraded from a "strong-buy" to a "hold" rating by Lifesci Capital, following a similar trend from other analysts including HC Wainwright and Wall Street Zen.
• The company's stock has experienced a severe decline of 89.2%, currently trading at around $2.05, with a recent 12-month high of $20.60.
• Despite the downgrade, Oppenheimer has raised its target price for KALA BIO from $15.00 to $33.00, reflecting some optimism about the company's long-term prospects.

KALA BIO (NASDAQ:KALA - Get Free Report) was downgraded by stock analysts at Lifesci Capital from a "strong-buy" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Several other research firms have also commented on KALA. HC Wainwright reissued a "neutral" rating on shares of KALA BIO in a research note on Monday. Wall Street Zen lowered shares of KALA BIO from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. LADENBURG THALM/SH SH lowered shares of KALA BIO from a "buy" rating to a "neutral" rating in a research note on Monday. Oppenheimer increased their target price on shares of KALA BIO from $15.00 to $33.00 and gave the company an "outperform" rating in a research note on Thursday, September 11th. Finally, Mizuho started coverage on shares of KALA BIO in a research report on Monday, September 8th. They issued an "outperform" rating and a $30.00 price target for the company. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $27.50.

KALA BIO Stock Down 89.2%

KALA stock opened at $2.05 on Monday. KALA BIO has a 12 month low of $1.10 and a 12 month high of $20.60. The firm has a market cap of $14.39 million, a PE ratio of -0.30 and a beta of -1.82. The firm has a 50 day simple moving average of $11.31 and a 200 day simple moving average of $6.88. The company has a debt-to-equity ratio of 3.19, a current ratio of 2.10 and a quick ratio of 2.10.

KALA BIO (NASDAQ:KALA - Get Free Report) last released its earnings results on Friday, August 8th. The company reported ($1.71) EPS for the quarter, beating the consensus estimate of ($1.82) by $0.11. Equities research analysts forecast that KALA BIO will post -10.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On KALA BIO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new stake in KALA BIO in the 2nd quarter worth approximately $62,000. Readystate Asset Management LP purchased a new stake in KALA BIO in the 1st quarter worth approximately $243,000. Geode Capital Management LLC lifted its position in KALA BIO by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 56,367 shares of the company's stock worth $268,000 after buying an additional 1,534 shares in the last quarter. AIGH Capital Management LLC lifted its position in KALA BIO by 61.9% in the 1st quarter. AIGH Capital Management LLC now owns 196,350 shares of the company's stock worth $1,125,000 after buying an additional 75,048 shares in the last quarter. Finally, Woodline Partners LP purchased a new stake in KALA BIO in the 1st quarter worth approximately $1,483,000. Hedge funds and other institutional investors own 24.61% of the company's stock.

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.

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