KALA BIO’s (KALA) “Buy” Rating Reiterated at HC Wainwright

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

KALA BIO Stock Performance

Shares of NASDAQ KALA opened at $4.24 on Friday. The company has a market capitalization of $25.83 million, a PE ratio of -0.34 and a beta of -1.70. The company has a debt-to-equity ratio of 3.18, a quick ratio of 2.15 and a current ratio of 2.15. The company’s fifty day moving average price is $7.42 and its 200 day moving average price is $6.78. KALA BIO has a 1 year low of $4.01 and a 1 year high of $11.20.

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

Hedge Funds Weigh In On KALA BIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KALA. Geode Capital Management LLC increased its stake in shares of KALA BIO by 28.4% during the fourth quarter. Geode Capital Management LLC now owns 47,642 shares of the company’s stock worth $331,000 after purchasing an additional 10,526 shares in the last quarter. AIGH Capital Management LLC purchased a new stake in KALA BIO during the 4th quarter worth approximately $842,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of KALA BIO by 10.0% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 178,934 shares of the company’s stock valued at $1,242,000 after acquiring an additional 16,271 shares during the last quarter. Silverarc Capital Management LLC acquired a new stake in shares of KALA BIO in the fourth quarter worth approximately $1,604,000. Finally, SR One Capital Management LP boosted its stake in shares of KALA BIO by 35.0% in the fourth quarter. SR One Capital Management LP now owns 598,940 shares of the company’s stock worth $4,157,000 after acquiring an additional 155,279 shares during the last quarter. 24.61% of the stock is owned by hedge funds and other 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.