Calithera Biosciences, Inc. (NASDAQ:CALA) Rating Increased to Buy at Zacks Investment Research

Calithera Biosciences, Inc. (NASDAQ:CALA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, November 6th. The brokerage currently has a $19.00 price target on the biotechnology company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 82.69% from the company’s previous close.

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 research analysts have also issued reports on the stock. William Blair began coverage on shares of Calithera Biosciences in a report on Thursday, October 5th. They set an “outperform” rating for the company. BidaskClub raised shares of Calithera Biosciences from a “strong sell” rating to a “sell” rating in a report on Friday, August 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. Calithera Biosciences presently has a consensus rating of “Buy” and a consensus price target of $15.17.

Shares of Calithera Biosciences (NASDAQ:CALA) traded down $0.35 on Monday, reaching $10.40. 402,722 shares of the company’s stock were exchanged, compared to its average volume of 996,100. Calithera Biosciences has a twelve month low of $2.90 and a twelve month high of $20.05.

Calithera Biosciences (NASDAQ:CALA) last announced its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. The company had revenue of $7.20 million for the quarter, compared to analysts’ expectations of $6.02 million. equities research analysts anticipate that Calithera Biosciences will post -0.77 earnings per share for the current year.

In related news, major shareholder Adage Capital Partners Gp, L.L sold 576,000 shares of the firm’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $15.64, for a total value of $9,008,640.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 16.30% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of CALA. Legal & General Group Plc bought a new stake in Calithera Biosciences in the second quarter worth $120,000. Nationwide Fund Advisors bought a new stake in Calithera Biosciences in the first quarter worth $131,000. KCG Holdings Inc. bought a new stake in Calithera Biosciences in the first quarter worth $144,000. Paloma Partners Management Co bought a new stake in Calithera Biosciences in the first quarter worth $160,000. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of Calithera Biosciences during the second quarter worth $166,000. Institutional investors own 71.03% of the company’s stock.

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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.

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