Calithera Biosciences (NASDAQ:CALA) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Calithera Biosciences (NASDAQ:CALA) from a sell rating to a hold rating in a research report report published on Monday, Zacks.com reports.

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 analysts also recently commented on CALA. Citigroup set a $8.00 price target on shares of Calithera Biosciences and gave the stock a hold rating in a research note on Friday, August 9th. ValuEngine raised shares of Calithera Biosciences from a hold rating to a buy rating in a research note on Monday, November 11th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $6.50.

CALA traded up $0.48 on Monday, reaching $3.86. The company had a trading volume of 1,176,731 shares, compared to its average volume of 303,164. The business has a 50 day simple moving average of $2.96 and a 200 day simple moving average of $4.15. The company has a market cap of $187.68 million, a price-to-earnings ratio of -2.58 and a beta of 1.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 7.39 and a current ratio of 7.39. Calithera Biosciences has a 52-week low of $2.45 and a 52-week high of $6.90.

Calithera Biosciences (NASDAQ:CALA) last announced its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.07. As a group, equities research analysts predict that Calithera Biosciences will post -1.98 EPS for the current fiscal year.

In other Calithera Biosciences news, major shareholder Bvf Partners L. P/Il purchased 1,598,977 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were purchased at an average cost of $2.60 per share, with a total value of $4,157,340.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Bvf Partners L. P/Il purchased 128,488 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were acquired at an average cost of $3.37 per share, for a total transaction of $433,004.56. The disclosure for this purchase can be found here. Insiders have acquired 4,123,950 shares of company stock worth $12,570,640 over the last three months. Insiders own 17.20% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wedbush Securities Inc. purchased a new position in shares of Calithera Biosciences in the third quarter worth $42,000. Beddow Capital Management Inc. purchased a new position in shares of Calithera Biosciences in the second quarter worth $44,000. Tower Research Capital LLC TRC purchased a new position in shares of Calithera Biosciences in the second quarter worth $56,000. Panagora Asset Management Inc. purchased a new position in shares of Calithera Biosciences in the second quarter worth $60,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Calithera Biosciences in the second quarter worth $63,000. 65.31% of the stock is currently owned by institutional investors.

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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