HC Wainwright Analysts Raise Earnings Estimates for KALA BIO, Inc. (NASDAQ:KALA)

KALA BIO, Inc. (NASDAQ:KALA) – Research analysts at HC Wainwright upped their Q3 2024 earnings estimates for shares of KALA BIO in a research report issued on Wednesday, August 7th. HC Wainwright analyst Y. Chen now anticipates that the company will post earnings of ($2.15) per share for the quarter, up from their prior estimate of ($4.17). HC Wainwright currently has a “Buy” rating and a $18.00 target price on the stock. The consensus estimate for KALA BIO’s current full-year earnings is ($14.49) per share. HC Wainwright also issued estimates for KALA BIO’s Q4 2024 earnings at ($2.15) EPS, FY2024 earnings at ($10.94) EPS, Q1 2025 earnings at ($2.34) EPS, Q2 2025 earnings at ($1.77) EPS, Q3 2025 earnings at ($1.43) EPS, Q4 2025 earnings at ($1.42) EPS and FY2025 earnings at ($6.67) EPS.

KALA BIO (NASDAQ:KALA) last released its earnings results on Tuesday, August 6th. The company reported ($3.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.40) by $1.24.

KALA BIO Stock Performance

KALA stock opened at $5.85 on Friday. The firm has a market cap of $16.47 million, a PE ratio of -0.39 and a beta of -2.03. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 4.92. The stock has a 50-day moving average price of $6.46 and a 200-day moving average price of $6.90. KALA BIO has a 1-year low of $4.21 and a 1-year high of $14.50.

Hedge Funds Weigh In On KALA BIO

An institutional investor recently raised its position in KALA BIO stock. Knights of Columbus Asset Advisors LLC raised its stake in shares of KALA BIO, Inc. (NASDAQ:KALA) by 100.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,834 shares of the company’s stock after purchasing an additional 2,417 shares during the period. Knights of Columbus Asset Advisors LLC owned approximately 0.18% of KALA BIO worth $34,000 as of its most recent SEC filing. 24.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Mark T. Iwicki sold 15,168 shares of KALA BIO stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $4.75, for a total value of $72,048.00. Following the completion of the sale, the chief executive officer now owns 263,755 shares in the company, valued at approximately $1,252,836.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other KALA BIO news, CEO Mark T. Iwicki sold 7,392 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $6.09, for a total value of $45,017.28. Following the transaction, the chief executive officer now owns 278,923 shares in the company, valued at $1,698,641.07. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark T. Iwicki sold 15,168 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $4.75, for a total value of $72,048.00. Following the completion of the sale, the chief executive officer now directly owns 263,755 shares of the company’s stock, valued at approximately $1,252,836.25. The disclosure for this sale can be found here. Insiders sold 35,255 shares of company stock valued at $182,564 over the last 90 days. Company insiders own 13.40% 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.