KALA BIO, Inc. (NASDAQ:KALA – Free Report) – Investment analysts at Wedbush upped their FY2023 earnings per share estimates for shares of KALA BIO in a research report issued to clients and investors on Tuesday, November 14th. Wedbush analyst A. Argyrides now expects that the company will post earnings of ($18.54) per share for the year, up from their prior forecast of ($19.02). The consensus estimate for KALA BIO’s current full-year earnings is ($16.52) per share. Wedbush also issued estimates for KALA BIO’s Q4 2023 earnings at ($3.78) EPS, FY2024 earnings at ($13.51) EPS, FY2025 earnings at ($11.50) EPS, FY2026 earnings at ($4.28) EPS and FY2027 earnings at ($9.31) EPS.
Separately, HC Wainwright restated a “buy” rating and issued a $24.00 target price on shares of KALA BIO in a report on Friday, August 11th.
KALA BIO Stock Performance
Shares of NASDAQ KALA opened at $5.28 on Thursday. The company has a quick ratio of 6.65, a current ratio of 6.65 and a debt-to-equity ratio of 2.24. The stock has a market capitalization of $13.41 million, a price-to-earnings ratio of -0.23 and a beta of -1.49. The stock’s fifty day simple moving average is $8.39 and its 200 day simple moving average is $12.54. KALA BIO has a 52-week low of $3.54 and a 52-week high of $56.72.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of KALA. UBS Group AG grew its stake in KALA BIO by 518.7% in the first quarter. UBS Group AG now owns 1,918 shares of the company’s stock valued at $29,000 after purchasing an additional 1,608 shares in the last quarter. Mirabella Financial Services LLP purchased a new position in KALA BIO in the first quarter valued at about $30,000. Goldman Sachs Group Inc. grew its stake in KALA BIO by 173.6% in the second quarter. Goldman Sachs Group Inc. now owns 243,918 shares of the company’s stock valued at $74,000 after purchasing an additional 154,756 shares in the last quarter. Renaissance Technologies LLC grew its stake in KALA BIO by 22.8% in the third quarter. Renaissance Technologies LLC now owns 436,800 shares of the company’s stock valued at $97,000 after purchasing an additional 81,200 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in KALA BIO in the first quarter valued at about $141,000. Hedge funds and other institutional investors own 23.98% of the company’s stock.
About KALA BIO
KALA BIO, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies for the treatment of eye diseases. The company's product candidates include KPI-012, which is in Phase 2b clinical trial for the treatment of persistent corneal epithelial defects; EYSUVIS for the short-term treatment of the signs and symptoms of dry eye disease; and INVELTYS, a topical twice-a-day ocular steroid for the treatment of post-operative inflammation and pain following ocular surgery.
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