Calithera Biosciences, Inc. (CALA) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Calithera Biosciences, Inc. (NASDAQ:CALA) from a buy rating to a hold rating in a report released on Friday, May 12th.

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. “

CALA has been the subject of several other research reports. HC Wainwright set a $10.00 target price on Calithera Biosciences and gave the stock a buy rating in a research report on Thursday, February 2nd. JMP Securities reaffirmed an outperform rating and issued a $12.00 target price on shares of Calithera Biosciences in a research report on Tuesday, March 28th. Citigroup Inc. raised Calithera Biosciences from a sell rating to a neutral rating and set a $5.00 target price for the company in a research report on Tuesday, January 24th. Finally, Leerink Swann reaffirmed an outperform rating and issued a $16.00 target price on shares of Calithera Biosciences in a research report on Monday, April 3rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Calithera Biosciences has a consensus rating of Buy and an average target price of $14.17.

Shares of Calithera Biosciences (NASDAQ:CALA) traded up 1.77% during mid-day trading on Friday, hitting $14.40. 2,453,479 shares of the stock were exchanged. The company has a 50-day moving average price of $14.08 and a 200-day moving average price of $9.46. Calithera Biosciences has a 12 month low of $2.20 and a 12 month high of $17.70. The stock’s market cap is $508.23 million.

Calithera Biosciences (NASDAQ:CALA) last issued its earnings results on Tuesday, May 9th. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.36) by $0.14. The company had revenue of $4.19 million during the quarter, compared to analyst estimates of $1.40 million. Equities analysts expect that Calithera Biosciences will post ($0.85) earnings per share for the current year.

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In related news, major shareholder Adage Capital Partners Gp, L.L bought 487,804 shares of the business’s stock in a transaction on Wednesday, March 22nd. The shares were bought at an average cost of $10.25 per share, for a total transaction of $4,999,991.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 16.30% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of CALA. UBS Oconnor LLC bought a new position in Calithera Biosciences during the first quarter valued at $2,030,000. Teachers Retirement System of The State of Kentucky bought a new position in Calithera Biosciences during the first quarter valued at $214,000. Goldman Sachs Group Inc. raised its position in Calithera Biosciences by 729.7% in the first quarter. Goldman Sachs Group Inc. now owns 133,981 shares of the biotechnology company’s stock valued at $1,547,000 after buying an additional 117,832 shares during the period. ICONIQ Capital LLC bought a new position in Calithera Biosciences during the first quarter valued at $268,000. Finally, Tudor Investment Corp ET AL bought a new position in Calithera Biosciences during the first quarter valued at $1,152,000. Institutional investors own 54.45% of the company’s stock.

Calithera Biosciences Company Profile

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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