KALA BIO (NASDAQ:KALA) Now Covered by Mizuho

Key Points

• Mizuho has initiated coverage on KALA BIO (NASDAQ:KALA) with an "outperform" rating and a price target of $30.00, indicating a potential upside of 106.19% from its previous close.
• KALA BIO's recent stock performance has seen a 400% increase in the past month, reflecting positive market sentiment despite being rated as "sell" by some analysts.
• The company reported an EPS of -1.71 for the last quarter, outperforming the consensus estimate of -1.82.

Equities researchers at Mizuho started coverage on shares of KALA BIO (NASDAQ:KALA - Get Free Report) in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage set an "outperform" rating and a $30.00 price target on the stock. Mizuho's price target would suggest a potential upside of 106.19% from the company's previous close.

Several other equities analysts have also commented on KALA. Wall Street Zen lowered KALA BIO from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. HC Wainwright reduced their price objective on shares of KALA BIO from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, May 23rd. LADENBURG THALM/SH SH initiated coverage on shares of KALA BIO in a research note on Friday, July 11th. They set a "buy" rating and a $12.00 target price for the company. Lifesci Capital upgraded shares of KALA BIO to a "strong-buy" rating in a research report on Wednesday, September 3rd. Finally, Oppenheimer restated an "outperform" rating and issued a $15.00 price objective on shares of KALA BIO in a report on Monday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. Based on data from MarketBeat, KALA BIO currently has a consensus rating of "Buy" and an average target price of $17.25.

KALA BIO Stock Performance

NASDAQ:KALA opened at $14.55 on Monday. The company's 50-day moving average is $7.78 and its two-hundred day moving average is $5.79. KALA BIO has a 1-year low of $2.92 and a 1-year high of $15.80. The company has a debt-to-equity ratio of 3.19, a current ratio of 2.10 and a quick ratio of 2.10. The firm has a market capitalization of $102.14 million, a price-to-earnings ratio of -2.14 and a beta of -1.82.

KALA BIO (NASDAQ:KALA - Get Free Report) last released its quarterly 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. Analysts forecast that KALA BIO will post -10.84 EPS for the current year.

Insider Activity

In other news, Director Mark T. Iwicki sold 13,227 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $4.01, for a total value of $53,040.27. Following the completion of the transaction, the director owned 258,433 shares of the company's stock, valued at approximately $1,036,316.33. This trade represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 30,678 shares of company stock worth $123,019 over the last 90 days. 8.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On KALA BIO

Large investors have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new stake in KALA BIO in the 2nd quarter valued at about $62,000. Geode Capital Management LLC increased its stake in shares of KALA BIO by 2.8% during the second 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 during the period. AIGH Capital Management LLC raised its holdings in KALA BIO by 52.8% in the second quarter. AIGH Capital Management LLC now owns 300,000 shares of the company's stock valued at $1,428,000 after acquiring an additional 103,650 shares in the last quarter. Woodline Partners LP acquired a new stake in KALA BIO in the first quarter valued at approximately $1,483,000. Finally, ADAR1 Capital Management LLC lifted its stake in KALA BIO by 35.7% in the first quarter. ADAR1 Capital Management LLC now owns 298,955 shares of the company's stock worth $1,713,000 after acquiring an additional 78,582 shares during the last quarter. 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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