Calithera Biosciences (NASDAQ:CALA) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Calithera Biosciences (NASDAQ:CALA) from a hold rating to a buy rating in a research report released on Tuesday morning, Zacks.com reports. The brokerage currently has $4.50 target price 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. “

A number of other brokerages have also commented on CALA. Citigroup set a $8.00 price objective on Calithera Biosciences and gave the company a hold rating in a report on Friday, August 9th. William Blair reaffirmed a buy rating on shares of Calithera Biosciences in a report on Friday, June 21st. Finally, ValuEngine raised Calithera Biosciences from a hold rating to a buy rating in a report on Thursday, August 1st.

Shares of NASDAQ CALA opened at $4.01 on Tuesday. The stock’s fifty day moving average price is $4.11 and its two-hundred day moving average price is $5.31. Calithera Biosciences has a one year low of $3.43 and a one year high of $6.90. The firm has a market cap of $215.62 million, a price-to-earnings ratio of -2.69 and a beta of 1.86.

Calithera Biosciences (NASDAQ:CALA) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.03). As a group, research analysts expect that Calithera Biosciences will post -1.82 EPS for the current year.

In other news, insider Susan Molineaux acquired 51,600 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were purchased at an average cost of $3.88 per share, with a total value of $200,208.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 17.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. CVI Holdings LLC acquired a new stake in Calithera Biosciences during the second quarter worth approximately $3,289,000. Citadel Advisors LLC grew its stake in Calithera Biosciences by 463.8% in the second quarter. Citadel Advisors LLC now owns 214,496 shares of the biotechnology company’s stock valued at $837,000 after acquiring an additional 176,451 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Calithera Biosciences in the second quarter valued at approximately $82,000. Point72 Asset Management L.P. acquired a new stake in Calithera Biosciences in the second quarter valued at approximately $7,550,000. Finally, Man Group plc grew its stake in Calithera Biosciences by 3.5% in the second quarter. Man Group plc now owns 367,620 shares of the biotechnology company’s stock valued at $1,434,000 after acquiring an additional 12,500 shares during the period. 56.87% of the stock is currently owned by hedge funds and other institutional investors.

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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