Brokerages Anticipate Calithera Biosciences, Inc. (CALA) Will Announce Quarterly Sales of $7.28 Million
Brokerages expect Calithera Biosciences, Inc. (NASDAQ:CALA) to announce sales of $7.28 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Calithera Biosciences’ earnings, with the highest sales estimate coming in at $7.30 million and the lowest estimate coming in at $7.25 million. The firm is expected to report its next earnings report on Thursday, March 15th.
On average, analysts expect that Calithera Biosciences will report full-year sales of $7.28 million for the current financial year, with estimates ranging from $19.00 million to $26.00 million. For the next financial year, analysts forecast that the firm will post sales of $27.09 million per share, with estimates ranging from $25.00 million to $28.27 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Calithera Biosciences.
Calithera Biosciences (NASDAQ:CALA) last released its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.06. The company had revenue of $7.20 million during the quarter, compared to analysts’ expectations of $6.02 million.
A number of equities analysts have commented on the company. Zacks Investment Research upgraded Calithera Biosciences from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Monday, November 6th. William Blair assumed coverage on Calithera Biosciences in a research note on Thursday, October 5th. They issued an “outperform” rating for the company. Finally, BidaskClub upgraded Calithera Biosciences from a “strong sell” rating to a “sell” rating in a research report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $15.17.
Shares of Calithera Biosciences (NASDAQ CALA) traded down $0.35 during midday trading on Monday, hitting $10.40. The stock had a trading volume of 402,700 shares, compared to its average volume of 750,630. Calithera Biosciences has a twelve month low of $2.90 and a twelve month high of $20.05.
In other Calithera Biosciences news, major shareholder Adage Capital Partners Gp, L.L sold 576,000 shares of Calithera Biosciences stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $15.64, for a total transaction of $9,008,640.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 16.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc acquired a new position in Calithera Biosciences during the 2nd quarter worth $120,000. Trexquant Investment LP acquired a new position in shares of Calithera Biosciences during the third quarter valued at about $168,000. Hillsdale Investment Management Inc. acquired a new position in shares of Calithera Biosciences during the second quarter valued at about $166,000. KCG Holdings Inc. acquired a new position in shares of Calithera Biosciences during the first quarter valued at about $144,000. Finally, GAM Holding AG acquired a new position in shares of Calithera Biosciences during the second quarter valued at about $206,000. Hedge funds and other institutional investors own 71.03% of the company’s stock.
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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