KALA BIO (NASDAQ:KALA) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of KALA BIO (NASDAQ:KALA) in a research note issued to investors on Friday morning,Benzinga reports. HC Wainwright currently has a $15.00 price target on the stock.

KALA BIO Stock Performance

Shares of KALA BIO stock opened at $4.24 on Friday. The stock’s fifty day simple moving average is $7.42 and its 200 day simple moving average is $6.77. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 3.18. The company has a market capitalization of $25.83 million, a PE ratio of -0.34 and a beta of -1.70. KALA BIO has a 12 month low of $4.01 and a 12 month high of $11.20.

KALA BIO (NASDAQ:KALA) last released its quarterly earnings data on Friday, March 28th. The company reported ($1.74) earnings per share for the quarter, beating the consensus estimate of ($2.28) by $0.54. On average, research analysts predict that KALA BIO will post -10.84 EPS for the current year.

Insider Transactions at KALA BIO

In related news, CEO Mark T. Iwicki sold 5,779 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $7.63, for a total transaction of $44,093.77. Following the completion of the transaction, the chief executive officer now directly owns 280,076 shares in the company, valued at approximately $2,136,979.88. This trade represents a 2.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 9,506 shares of company stock valued at $72,531 over the last quarter. Corporate insiders own 8.32% of the company’s stock.

Hedge Funds Weigh In On KALA BIO

A number of large investors have recently bought and sold shares of the company. Baker BROS. Advisors LP raised its holdings in shares of KALA BIO by 34.8% in the fourth quarter. Baker BROS. Advisors LP now owns 1,201,894 shares of the company’s stock valued at $8,341,000 after purchasing an additional 310,559 shares during the last quarter. SR One Capital Management LP increased its stake in KALA BIO by 35.0% in the 4th quarter. SR One Capital Management LP now owns 598,940 shares of the company’s stock valued at $4,157,000 after buying an additional 155,279 shares during the last quarter. Silverarc Capital Management LLC bought a new stake in KALA BIO during the 4th quarter worth about $1,604,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of KALA BIO by 10.0% during 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 bought a new position in shares of KALA BIO in the 4th quarter valued at about $842,000. Institutional investors and hedge funds 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.