Calithera Biosciences (NASDAQ:CALA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

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. “

CALA has been the topic of several other reports. BidaskClub cut Calithera Biosciences from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 18th. Leerink Swann reaffirmed an “outperform” rating on shares of Calithera Biosciences in a research report on Friday, April 6th. ValuEngine cut Calithera Biosciences from a “sell” rating to a “strong sell” rating in a research report on Saturday, February 3rd. Finally, Citigroup raised Calithera Biosciences from a “neutral” rating to a “buy” rating and upped their price objective for the company from $6.95 to $14.00 in a research report on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Calithera Biosciences has a consensus rating of “Hold” and an average price target of $18.00.

Shares of CALA opened at $5.55 on Tuesday. Calithera Biosciences has a 52 week low of $5.60 and a 52 week high of $5.75. The company has a market capitalization of $209.69 million, a PE ratio of -6.61 and a beta of 2.62.

Calithera Biosciences (NASDAQ:CALA) last issued its quarterly earnings results on Thursday, May 10th. The biotechnology company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.05). The company had revenue of $5.19 million during the quarter, compared to the consensus estimate of $7.28 million. Calithera Biosciences had a negative return on equity of 22.92% and a negative net margin of 131.51%. research analysts predict that Calithera Biosciences will post -1.4 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in Calithera Biosciences in the 4th quarter valued at approximately $370,000. Lazard Asset Management LLC bought a new position in shares of Calithera Biosciences during the 4th quarter valued at $167,000. Ascend Capital LLC lifted its holdings in shares of Calithera Biosciences by 5.4% during the 4th quarter. Ascend Capital LLC now owns 693,801 shares of the biotechnology company’s stock valued at $5,792,000 after buying an additional 35,606 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Calithera Biosciences by 25.8% during the 3rd quarter. Wells Fargo & Company MN now owns 33,742 shares of the biotechnology company’s stock valued at $531,000 after buying an additional 6,910 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in shares of Calithera Biosciences by 210.1% during the 3rd quarter. California Public Employees Retirement System now owns 43,719 shares of the biotechnology company’s stock valued at $689,000 after buying an additional 29,619 shares during the period. 69.06% of the stock is currently owned by institutional investors and hedge funds.

About Calithera Biosciences

Calithera Biosciences, Inc is a clinical-stage biopharmaceutical company, which engages in discovering and developing novel small molecule drugs directed against tumor metabolism and tumor immunology targets for the treatment of cancer. It offers programs such as Pipeline, Glutaminase Inhibitor, and Arginase Inhibitor.

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Analyst Recommendations for Calithera Biosciences (NASDAQ:CALA)

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