KALA BIO (NASDAQ:KALA) Releases Earnings Results, Beats Expectations By $1.24 EPS

KALA BIO (NASDAQ:KALA) posted its earnings results on Tuesday. The company reported ($3.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.40) by $1.24, Yahoo Finance reports.

KALA BIO Stock Performance

KALA BIO stock traded down $0.23 during midday trading on Wednesday, hitting $5.96. The company’s stock had a trading volume of 12,264 shares, compared to its average volume of 114,791. KALA BIO has a 1-year low of $4.21 and a 1-year high of $14.50. The company has a debt-to-equity ratio of 4.92, a current ratio of 4.22 and a quick ratio of 4.22. The company has a 50-day moving average price of $6.50 and a two-hundred day moving average price of $6.92. The company has a market cap of $16.78 million, a price-to-earnings ratio of -0.39 and a beta of -2.03.

Insiders Place Their Bets

In other KALA BIO news, CEO Mark T. Iwicki sold 7,392 shares of KALA BIO stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $6.09, for a total value of $45,017.28. Following the completion of the sale, the chief executive officer now owns 278,923 shares in the company, valued at approximately $1,698,641.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Mark T. Iwicki sold 15,168 shares of KALA BIO stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $4.75, for a total value of $72,048.00. Following the transaction, the chief executive officer now owns 263,755 shares in the company, valued at approximately $1,252,836.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark T. Iwicki sold 7,392 shares of KALA BIO stock in a transaction on Friday, May 31st. The shares were sold at an average price of $6.09, for a total value of $45,017.28. Following the completion of the transaction, the chief executive officer now owns 278,923 shares in the company, valued at approximately $1,698,641.07. The disclosure for this sale can be found here. Insiders sold 35,255 shares of company stock worth $182,564 in the last quarter. 13.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright cut their target price on shares of KALA BIO from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, May 17th.

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.