KALA BIO (NASDAQ:KALA) Stock Price Expected to Rise, Oppenheimer Analyst Says

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 objective raised by Oppenheimer from $15.00 to $33.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Oppenheimer's price objective indicates a potential upside of 105.35% from the stock's current price.

Several other equities analysts also recently issued reports on the stock. LADENBURG THALM/SH SH initiated coverage on shares of KALA BIO in a report on Friday, July 11th. They set a "buy" rating and a $12.00 price target for the company. Wall Street Zen cut shares of KALA BIO from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Lifesci Capital upgraded shares of KALA BIO to a "strong-buy" rating in a report on Wednesday, September 3rd. Mizuho assumed coverage on shares of KALA BIO in a report on Monday. They issued an "outperform" rating and a $30.00 price target for the company. Finally, HC Wainwright dropped 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. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. Based on data from MarketBeat, KALA BIO has an average rating of "Buy" and an average price target of $21.75.

KALA BIO Stock Up 5.2%

KALA BIO stock opened at $16.07 on Thursday. The company has a market capitalization of $112.81 million, a P/E ratio of -2.37 and a beta of -1.81. The firm's fifty day simple moving average is $8.37 and its 200-day simple moving average is $5.97. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 3.19. KALA BIO has a 1-year low of $2.92 and a 1-year high of $15.80.

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

Insider Transactions at KALA BIO

In other news, Director Mark T. Iwicki sold 13,227 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $4.01, for a total value of $53,040.27. Following the transaction, the director directly owned 258,433 shares of the company's stock, valued at $1,036,316.33. This represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 30,678 shares of company stock worth $123,019 over the last 90 days. Corporate insiders own 8.32% of the company's stock.

Hedge Funds Weigh In On KALA BIO

Several large investors have recently modified their holdings of KALA. Woodline Partners LP bought a new position in shares of KALA BIO in the first quarter valued at about $1,483,000. AIGH Capital Management LLC grew its stake in KALA BIO by 52.8% during the second quarter. AIGH Capital Management LLC now owns 300,000 shares of the company's stock worth $1,428,000 after buying an additional 103,650 shares in the last quarter. ADAR1 Capital Management LLC raised its holdings in KALA BIO by 35.7% in the 1st quarter. ADAR1 Capital Management LLC now owns 298,955 shares of the company's stock valued at $1,713,000 after buying an additional 78,582 shares during the last quarter. Readystate Asset Management LP bought a new position in KALA BIO in the 1st quarter valued at approximately $243,000. Finally, XTX Topco Ltd bought a new position in KALA BIO in the 2nd quarter valued at approximately $62,000. 24.61% of the stock is owned by institutional investors.

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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