Zacks Investment Research Downgrades Calithera Biosciences (CALA) to Hold

Calithera Biosciences (NASDAQ:CALA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

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 equities analysts have also recently commented on CALA. BidaskClub raised Calithera Biosciences from a “strong sell” rating to a “sell” rating in a report on Friday, December 22nd. ValuEngine cut Calithera Biosciences from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Finally, William Blair began coverage on Calithera Biosciences in a report on Thursday, October 5th. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $15.17.

Calithera Biosciences (CALA) traded down $0.30 during midday trading on Tuesday, reaching $8.60. The company had a trading volume of 255,800 shares, compared to its average volume of 505,750. The firm has a market cap of $305.10, a PE ratio of -8.69 and a beta of 2.87. Calithera Biosciences has a 12 month low of $3.50 and a 12 month high of $20.05.

Calithera Biosciences (NASDAQ:CALA) last released its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.06. The business had revenue of $7.20 million during the quarter, compared to analyst estimates of $6.02 million. research analysts forecast that Calithera Biosciences will post -0.77 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the business. FMR LLC raised its holdings in shares of Calithera Biosciences by 85.8% during the second quarter. FMR LLC now owns 2,717,090 shares of the biotechnology company’s stock valued at $40,349,000 after acquiring an additional 1,254,900 shares during the last quarter. State Street Corp grew its position in shares of Calithera Biosciences by 5,802.1% in the second quarter. State Street Corp now owns 1,304,375 shares of the biotechnology company’s stock valued at $19,370,000 after purchasing an additional 1,282,275 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Calithera Biosciences by 29.7% in the second quarter. Vanguard Group Inc. now owns 1,199,525 shares of the biotechnology company’s stock valued at $17,813,000 after purchasing an additional 274,510 shares in the last quarter. Lord Abbett & CO. LLC grew its position in shares of Calithera Biosciences by 65.5% in the second quarter. Lord Abbett & CO. LLC now owns 497,811 shares of the biotechnology company’s stock valued at $7,392,000 after purchasing an additional 197,055 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Calithera Biosciences by 272.8% in the third quarter. American Century Companies Inc. now owns 424,752 shares of the biotechnology company’s stock valued at $6,690,000 after purchasing an additional 310,806 shares in the last quarter. 72.19% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Calithera Biosciences (NASDAQ:CALA)

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