KALA BIO (NASDAQ:KALA) Now Covered by Analysts at 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.

Mizuho assumed coverage on shares of KALA BIO (NASDAQ:KALA - Get Free Report) in a research report issued on Monday, Marketbeat Ratings reports. The firm set an "outperform" rating and a $30.00 price target on the stock. Mizuho's price objective suggests a potential upside of 61.12% from the stock's previous close.

Other analysts have also issued research reports about the company. LADENBURG THALM/SH SH started coverage on KALA BIO in a report on Friday, July 11th. They issued a "buy" rating and a $12.00 target price on the stock. HC Wainwright decreased their price objective on KALA BIO from $15.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. Wall Street Zen lowered KALA BIO from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Oppenheimer reaffirmed an "outperform" rating and set a $15.00 price objective on shares of KALA BIO in a research note on Monday, June 2nd. Finally, Lifesci Capital raised KALA BIO to a "strong-buy" rating in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $21.75.

KALA BIO Price Performance

KALA BIO stock traded up $1.62 during trading hours on Monday, hitting $18.62. The stock had a trading volume of 548,207 shares, compared to its average volume of 239,104. 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 stock has a market capitalization of $130.71 million, a price-to-earnings ratio of -2.74 and a beta of -1.81. KALA BIO has a 1-year low of $2.92 and a 1-year high of $18.89. The stock's fifty day moving average is $8.87 and its two-hundred day moving average is $6.12.

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

Insider Transactions at KALA BIO

In other KALA BIO news, Director Mark T. Iwicki sold 13,227 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $4.01, for a total value of $53,040.27. Following the sale, the director directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 30,678 shares of company stock valued at $123,019. 8.32% of the stock is currently owned by company insiders.

Institutional Trading of KALA BIO

Hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in KALA BIO in the 2nd quarter worth about $62,000. Readystate Asset Management LP acquired a new stake in KALA BIO in the 1st quarter worth about $243,000. Geode Capital Management LLC boosted its stake 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 during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in KALA BIO by 10.0% in 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 buying an additional 16,271 shares during the last quarter. Finally, AIGH Capital Management LLC boosted its stake 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 during the last quarter. 24.61% of the stock is 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.