Calithera Biosciences, Inc. (NASDAQ:CALA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

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 have also commented on CALA. HC Wainwright restated a “buy” rating and set a $14.00 price target (up previously from $10.00) on shares of Calithera Biosciences in a research note on Tuesday, March 28th. JMP Securities restated an “outperform” rating and set a $12.00 price target on shares of Calithera Biosciences in a research note on Tuesday, March 28th. Leerink Swann restated an “outperform” rating and set a $16.00 price target on shares of Calithera Biosciences in a research note on Monday, April 3rd. Wells Fargo & Company restated an “outperform” rating and set a $20.00 price target (up previously from $15.00) on shares of Calithera Biosciences in a research note on Tuesday, June 6th. Finally, BidaskClub upgraded shares of Calithera Biosciences from a “hold” rating to a “buy” rating in a research note on Friday, July 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $15.50.

Shares of Calithera Biosciences (NASDAQ CALA) opened at 18.375 on Thursday. The stock’s market capitalization is $648.53 million. Calithera Biosciences has a 12 month low of $2.20 and a 12 month high of $20.05. The company’s 50-day moving average is $14.97 and its 200-day moving average is $10.21.

Calithera Biosciences (NASDAQ:CALA) last announced its quarterly earnings results on Tuesday, May 9th. The biotechnology company reported ($0.22) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.14. The business had revenue of $4.19 million for the quarter, compared to analyst estimates of $1.40 million. Equities research analysts expect that Calithera Biosciences will post ($0.89) earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. purchased a new position in Calithera Biosciences during the first quarter worth about $117,000. Nationwide Fund Advisors purchased a new position in Calithera Biosciences during the first quarter worth about $131,000. KCG Holdings Inc. purchased a new position in Calithera Biosciences during the first quarter worth about $144,000. Paloma Partners Management Co purchased a new position in Calithera Biosciences during the first quarter worth about $160,000. Finally, ClariVest Asset Management LLC purchased a new position in Calithera Biosciences during the first quarter worth about $194,000. Institutional investors and hedge funds own 54.21% of the company’s stock.

About Calithera Biosciences

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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Analyst Recommendations for Calithera Biosciences (NASDAQ:CALA)

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