Calithera Biosciences Inc (NASDAQ:CALA) Expected to Post Earnings of -$0.49 Per Share

Brokerages expect Calithera Biosciences Inc (NASDAQ:CALA) to report ($0.49) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Calithera Biosciences’ earnings, with the highest EPS estimate coming in at ($0.48) and the lowest estimate coming in at ($0.50). Calithera Biosciences posted earnings per share of ($0.52) during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.8%. The firm is expected to announce its next quarterly earnings report after the market closes on Tuesday, November 12th.

According to Zacks, analysts expect that Calithera Biosciences will report full year earnings of ($2.18) per share for the current fiscal year, with EPS estimates ranging from ($2.23) to ($2.13). For the next fiscal year, analysts forecast that the company will report earnings of ($1.77) per share, with EPS estimates ranging from ($2.01) to ($1.53). Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Calithera Biosciences.

A number of analysts have weighed in on the company. Zacks Investment Research cut Calithera Biosciences from a “hold” rating to a “sell” rating in a research note on Monday. Citigroup set a $8.00 price target on Calithera Biosciences and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, ValuEngine upgraded Calithera Biosciences from a “hold” rating to a “buy” rating in a research note on Monday.

NASDAQ:CALA traded up $0.09 during midday trading on Tuesday, reaching $3.24. The company had a trading volume of 430 shares, compared to its average volume of 390,383. The firm has a market capitalization of $181.76 million, a price-to-earnings ratio of -2.16 and a beta of 1.81. The stock’s fifty day simple moving average is $2.98 and its 200-day simple moving average is $4.25. Calithera Biosciences has a 12-month low of $2.45 and a 12-month high of $6.90.

In other news, major shareholder Bvf Partners L. P/Il bought 1,598,977 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were acquired at an average price of $2.60 per share, for a total transaction of $4,157,340.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Value Fund L. P. Biotechnology bought 2,396,485 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average price of $3.33 per share, for a total transaction of $7,980,295.05. 17.20% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Beddow Capital Management Inc. acquired a new position in shares of Calithera Biosciences during the 2nd quarter worth approximately $44,000. Wedbush Securities Inc. acquired a new stake in shares of Calithera Biosciences during the 3rd quarter worth $42,000. Tower Research Capital LLC TRC acquired a new stake in shares of Calithera Biosciences in the 2nd quarter valued at about $56,000. Panagora Asset Management Inc. acquired a new stake in shares of Calithera Biosciences in the 2nd quarter valued at about $60,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Calithera Biosciences during the second quarter worth about $63,000. Institutional investors and hedge funds own 63.25% of the company’s stock.

Calithera Biosciences Company Profile

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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