Kailera Therapeutics (NASDAQ:KLRA) Coverage Initiated by Analysts at Canaccord Genuity Group

Analysts at Canaccord Genuity Group began coverage on shares of Kailera Therapeutics (NASDAQ:KLRA) in a research report issued on Monday, Briefing.com reports. The brokerage set a “buy” rating and a $44.00 price target on the stock. Canaccord Genuity Group‘s target price indicates a potential upside of 239.24% from the stock’s previous close.

Separately, Weiss Ratings upgraded shares of Kailera Therapeutics from a “sell (d-)” rating to a “sell (d)” rating in a research note on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Kailera Therapeutics Stock Performance

Shares of NASDAQ:KLRA opened at $12.97 on Monday. Kailera Therapeutics has a 52 week low of $9.76 and a 52 week high of $28.23. The firm has a 50 day moving average price of $12.78. The stock has a market cap of $1.68 billion and a P/E ratio of -0.00.

Kailera Therapeutics (NASDAQ:KLRA) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($0.74) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.55) by $0.81. As a group, research analysts expect that Kailera Therapeutics will post -3.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kailera Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in KLRA. Aberdeen Group plc lifted its stake in Kailera Therapeutics by 209.0% during the third quarter. Aberdeen Group plc now owns 432,661 shares of the company’s stock worth $4,941,000 after purchasing an additional 292,661 shares during the last quarter. Alps Advisors Inc. boosted its holdings in Kailera Therapeutics by 31.1% in the third quarter. Alps Advisors Inc. now owns 171,739 shares of the company’s stock valued at $1,961,000 after purchasing an additional 40,739 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in Kailera Therapeutics in the third quarter valued at approximately $134,000. Profund Advisors LLC acquired a new position in Kailera Therapeutics in the third quarter valued at approximately $216,000. Finally, Mirador Capital Partners LP purchased a new position in Kailera Therapeutics in the third quarter valued at approximately $666,000.

About Kailera Therapeutics

Kailera Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for obesity and related metabolic diseases.

The company’s activities center on the research and development of potential pharmaceutical therapies intended to address chronic weight management and associated health conditions. Its products remain in development and are subject to clinical, regulatory and commercial milestones.

Publicly available information about Kailera Therapeutics’ specific product candidates, operating geographies and leadership is limited.