Calithera Biosciences (NASDAQ:CALA) Upgraded to “Hold” by Zacks Investment Research

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

Several other research analysts also recently weighed in on the stock. Citigroup set a $8.00 price objective on shares of Calithera Biosciences and gave the stock a hold rating in a report on Friday, August 9th. ValuEngine upgraded shares of Calithera Biosciences from a hold rating to a buy rating in a report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $6.50.

CALA traded up $0.48 during trading on Monday, hitting $3.86. 1,176,731 shares of the company’s stock were exchanged, compared to its average volume of 303,164. The company has a quick ratio of 7.39, a current ratio of 7.39 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $2.96 and its two-hundred day moving average is $4.15. Calithera Biosciences has a fifty-two week low of $2.45 and a fifty-two week high of $6.90. The stock has a market cap of $187.68 million, a P/E ratio of -2.58 and a beta of 1.81.

Calithera Biosciences (NASDAQ:CALA) last released its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.38) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.07. On average, sell-side analysts forecast that Calithera Biosciences will post -1.98 earnings per share for the current year.

In other news, insider Value Fund L. P. Biotechnology bought 2,396,485 shares of the stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of $3.33 per share, for a total transaction of $7,980,295.05. Also, major shareholder Bvf Partners L. P/Il bought 1,598,977 shares of the stock in a transaction dated Tuesday, October 29th. The stock was purchased at an average price of $2.60 per share, with a total value of $4,157,340.20. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 4,123,950 shares of company stock worth $12,570,640. Corporate insiders own 17.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Calithera Biosciences by 8.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 83,832 shares of the biotechnology company’s stock valued at $327,000 after purchasing an additional 6,528 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Calithera Biosciences by 5.8% in the second quarter. Bank of New York Mellon Corp now owns 136,096 shares of the biotechnology company’s stock valued at $531,000 after purchasing an additional 7,484 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Calithera Biosciences by 18.8% in the third quarter. Rhumbline Advisers now owns 58,413 shares of the biotechnology company’s stock valued at $180,000 after purchasing an additional 9,235 shares during the last quarter. Beddow Capital Management Inc. purchased a new stake in shares of Calithera Biosciences in the second quarter valued at about $44,000. Finally, Man Group plc raised its holdings in shares of 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 purchasing an additional 12,500 shares during the last quarter. Institutional investors own 65.31% 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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