Oppenheimer Forecasts Strong Price Appreciation for KALA BIO (NASDAQ:KALA) Stock

Key Points

• Oppenheimer raised its price target for KALA BIO stock from $15.00 to $33.00, indicating a potential upside of 105.35% from the current price.
• Multiple analysts have differing ratings on KALA BIO, with one analyst giving it a "Strong Buy" rating while others rate it as "Buy" or even "Sell," reflecting a lack of consensus in the market.
• KALA BIO has seen significant stock activity, including a 400% increase over the past month and recent insider sales totaling 30,678 shares worth $123,019 in the last 90 days.

KALA BIO (NASDAQ:KALA - Get Free Report) had its price target increased by investment analysts at Oppenheimer from $15.00 to $33.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's price objective indicates a potential upside of 70.72% from the stock's current price.

A number of other brokerages also recently weighed in on KALA. LADENBURG THALM/SH SH began coverage on shares of KALA BIO in a report on Friday, July 11th. They issued a "buy" rating and a $12.00 price target for the company. Lifesci Capital raised shares of KALA BIO to a "strong-buy" rating in a research note on Wednesday, September 3rd. Wall Street Zen lowered shares of KALA BIO from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Mizuho began coverage on shares of KALA BIO in a research note on Monday, September 8th. They set an "outperform" rating and a $30.00 price objective for the company. Finally, HC Wainwright reduced their price objective on shares of KALA BIO from $15.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $21.75.

KALA BIO Stock Performance

Shares of KALA BIO stock traded up $0.08 during trading on Thursday, hitting $19.33. 130,280 shares of the stock were exchanged, compared to its average volume of 110,124. The stock's fifty day moving average is $9.15 and its 200 day moving average is $6.20. The stock has a market cap of $135.70 million, a PE ratio of -2.88 and a beta of -1.82. The company has a debt-to-equity ratio of 3.19, a quick ratio of 2.10 and a current ratio of 2.10. KALA BIO has a 12 month low of $2.92 and a 12 month high of $20.13.

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, topping the consensus estimate of ($1.82) by $0.11. As a group, sell-side analysts anticipate that KALA BIO will post -10.84 EPS for the current year.

Insider Buying and Selling

In related news, Director Mark T. Iwicki sold 13,227 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $4.01, for a total value of $53,040.27. Following the transaction, the director owned 258,433 shares in the company, valued at approximately $1,036,316.33. This represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 30,678 shares of company stock valued at $123,019 in the last 90 days. Corporate insiders own 8.32% of the company's stock.

Institutional Investors Weigh In On KALA BIO

Several hedge funds and other institutional investors have recently modified their holdings of the stock. XTX Topco Ltd acquired a new stake in shares of KALA BIO in the second quarter worth $62,000. Geode Capital Management LLC grew its stake in shares of KALA BIO by 2.8% in the second quarter. Geode Capital Management LLC now owns 56,367 shares of the company's stock worth $268,000 after acquiring an additional 1,534 shares during the last quarter. AIGH Capital Management LLC grew its stake in shares of KALA BIO by 52.8% in the second quarter. AIGH Capital Management LLC now owns 300,000 shares of the company's stock worth $1,428,000 after acquiring an additional 103,650 shares during the last quarter. Woodline Partners LP acquired a new stake in shares of KALA BIO in the first quarter worth $1,483,000. Finally, ADAR1 Capital Management LLC lifted its position 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 purchasing an additional 78,582 shares during the period. Institutional investors and hedge funds own 24.61% of the company's stock.

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.