Calithera Biosciences (CALA) Raised to Buy at ValuEngine

Calithera Biosciences (NASDAQ:CALA) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report released on Thursday.

Separately, Zacks Investment Research raised shares of Calithera Biosciences from a “hold” rating to a “buy” rating and set a $5.75 target price on the stock in a research report on Tuesday, October 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.88.

NASDAQ CALA traded up $0.11 during trading on Thursday, reaching $4.83. 236,286 shares of the company’s stock traded hands, compared to its average volume of 438,371. The company has a market capitalization of $173.10 million, a price-to-earnings ratio of -5.75 and a beta of 2.48. Calithera Biosciences has a 12-month low of $4.05 and a 12-month high of $17.95.

Calithera Biosciences (NASDAQ:CALA) last posted its earnings results on Tuesday, August 7th. The biotechnology company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.23. The business had revenue of $17.07 million for the quarter, compared to the consensus estimate of $5.17 million. Calithera Biosciences had a negative net margin of 90.65% and a negative return on equity of 22.09%. As a group, equities research analysts expect that Calithera Biosciences will post -1.27 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in CALA. Federated Investors Inc. PA boosted its holdings in shares of Calithera Biosciences by 32.8% in the 2nd quarter. Federated Investors Inc. PA now owns 1,888,900 shares of the biotechnology company’s stock valued at $9,445,000 after buying an additional 466,700 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Calithera Biosciences by 11.9% in the 1st quarter. BlackRock Inc. now owns 3,229,031 shares of the biotechnology company’s stock valued at $20,344,000 after buying an additional 342,756 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Calithera Biosciences by 67.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 792,300 shares of the biotechnology company’s stock valued at $3,962,000 after buying an additional 319,906 shares in the last quarter. Alambic Investment Management L.P. boosted its holdings in shares of Calithera Biosciences by 613.4% in the 2nd quarter. Alambic Investment Management L.P. now owns 263,374 shares of the biotechnology company’s stock valued at $1,317,000 after buying an additional 226,456 shares in the last quarter. Finally, Hikari Power Ltd bought a new stake in shares of Calithera Biosciences in the 2nd quarter valued at about $500,000. Institutional investors and hedge funds own 54.83% of the company’s stock.

About Calithera Biosciences

Calithera Biosciences, Inc, a clinical-stage bio-pharmaceutical company, focuses on the discovery and development of small molecule drugs directed against tumor metabolism and tumor immunology targets for the treatment of cancer in the United States. Its lead product candidate is CB-839, an inhibitor of glutaminase, which is in Phase II clinical trial to treat solid tumors.

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