Zacks Investment Research Lowers Calithera Biosciences (NASDAQ:CALA) to Hold

Zacks Investment Research cut shares of Calithera Biosciences (NASDAQ:CALA) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, 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. “

Other research analysts also recently issued research reports about the company. William Blair restated a buy rating on shares of Calithera Biosciences in a research note on Friday, June 21st. ValuEngine downgraded Calithera Biosciences from a buy rating to a hold rating in a research note on Wednesday, September 4th. Finally, Citigroup set a $8.00 target price on Calithera Biosciences and gave the company a hold rating in a research note on Friday, August 9th.

Shares of NASDAQ CALA opened at $2.61 on Wednesday. The business’s 50-day moving average price is $3.61 and its two-hundred day moving average price is $4.78. Calithera Biosciences has a one year low of $2.45 and a one year high of $6.90. The company has a market capitalization of $140.34 million, a P/E ratio of -1.75 and a beta of 1.83.

Calithera Biosciences (NASDAQ:CALA) last issued its earnings results on Thursday, August 8th. The biotechnology company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.03). On average, equities research analysts forecast that Calithera Biosciences will post -1.82 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Beddow Capital Management Inc. bought a new stake in shares of Calithera Biosciences during the 2nd quarter worth about $44,000. Tower Research Capital LLC TRC bought a new stake in shares of Calithera Biosciences during the 2nd quarter worth about $56,000. Panagora Asset Management Inc. bought a new stake in shares of Calithera Biosciences during the 2nd quarter worth about $60,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Calithera Biosciences during the 2nd quarter worth about $63,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Calithera Biosciences during the 2nd quarter worth about $82,000. Institutional investors own 63.86% 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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