Calithera Biosciences, Inc. (CALA) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Calithera Biosciences, Inc. (NASDAQ:CALA) from a hold rating to a buy rating in a report issued on Monday. They currently have $19.00 price target on the biotechnology company’s stock.
According to Zacks, “Calithera Biosciences, Inc. is a clinical-stage pharmaceutical company. It is focused on discovering and developing small molecule drugs directed against tumor metabolism and tumor immunology targets for the treatment of cancer. The Company’s lead product candidate includes CB-839 which is in three Phase I clinical trials for the treatment of patients with solid tumors, leukemias, lymphomas, and multiple myeloma. Calithera Biosciences, Inc. is headquartered in South San Francisco, California. “
Several other research firms have also weighed in on CALA. BidaskClub lowered Calithera Biosciences from a hold rating to a sell rating in a research note on Friday, July 28th. William Blair assumed coverage on Calithera Biosciences in a research note on Thursday, October 5th. They issued an outperform rating on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $15.17.
Calithera Biosciences (NASDAQ CALA) traded down $0.25 on Monday, reaching $16.40. The company’s stock had a trading volume of 624,614 shares, compared to its average volume of 497,502. Calithera Biosciences has a 52 week low of $2.50 and a 52 week high of $20.05.
Calithera Biosciences (NASDAQ:CALA) last posted its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.06. The business had revenue of $7.20 million during the quarter, compared to analysts’ expectations of $6.02 million. equities research analysts forecast that Calithera Biosciences will post -0.77 earnings per share for the current fiscal year.
In other news, major shareholder Adage Capital Partners Gp, L.L sold 576,000 shares of Calithera Biosciences stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $15.64, for a total value of $9,008,640.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 16.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC lifted its position in Calithera Biosciences by 10.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 14,972 shares of the biotechnology company’s stock worth $222,000 after acquiring an additional 1,472 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Calithera Biosciences by 17.5% during the 1st quarter. Bank of New York Mellon Corp now owns 32,688 shares of the biotechnology company’s stock worth $377,000 after acquiring an additional 4,863 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Calithera Biosciences by 68.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 17,000 shares of the biotechnology company’s stock worth $252,000 after acquiring an additional 6,885 shares in the last quarter. Legal & General Group Plc acquired a new position in Calithera Biosciences during the 2nd quarter worth approximately $120,000. Finally, Teachers Retirement System of The State of Kentucky lifted its position in Calithera Biosciences by 49.2% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 27,600 shares of the biotechnology company’s stock worth $410,000 after acquiring an additional 9,100 shares in the last quarter. 71.22% of the stock is currently owned by hedge funds and other institutional investors.
About Calithera Biosciences
Calithera Biosciences, Inc is a clinical-stage pharmaceutical company. The Company focuses on discovering and developing small molecule drugs directed against tumor and immune cell targets that control key metabolic pathways in the tumor microenvironment. It is engaged in developing agents that take advantage of the metabolic requirements of tumor cells and cancer-fighting immune cells, such as cytotoxic T-cells.
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