Calithera Biosciences, Inc. (NASDAQ:CALA) Upgraded to “Strong-Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Calithera Biosciences, Inc. (NASDAQ:CALA) from a hold rating to a strong-buy rating in a report published on Tuesday. Zacks Investment Research currently has $21.00 price target on the biotechnology company’s stock.

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

Shares of Calithera Biosciences (CALA) traded down 1.77% during midday trading on Tuesday, hitting $18.05. 351,063 shares of the company’s stock traded hands. The firm’s market capitalization is $637.06 million. Calithera Biosciences has a 1-year low of $2.20 and a 1-year high of $20.05. The company has a 50 day moving average price of $14.97 and a 200 day moving average price of $10.21.

Calithera Biosciences (NASDAQ:CALA) last released its quarterly earnings results on Tuesday, May 9th. The biotechnology company reported ($0.22) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $0.14. The firm had revenue of $4.19 million during the quarter, compared to analyst estimates of $1.40 million. Equities analysts anticipate that Calithera Biosciences will post ($0.89) earnings per share for the current year.

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Several institutional investors have recently made changes to their positions in CALA. FMR LLC raised its position in shares of Calithera Biosciences by 6.8% in the fourth quarter. FMR LLC now owns 386,598 shares of the biotechnology company’s stock worth $1,256,000 after buying an additional 24,600 shares during the last quarter. Candriam Luxembourg S.C.A. raised its position in shares of Calithera Biosciences by 71.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 325,199 shares of the biotechnology company’s stock worth $3,756,000 after buying an additional 135,000 shares during the last quarter. Nationwide Fund Advisors bought a new position in shares of Calithera Biosciences during the first quarter worth about $131,000. Acadian Asset Management LLC bought a new position in shares of Calithera Biosciences during the first quarter worth about $381,000. Finally, Bank of New York Mellon Corp raised its position in shares of Calithera Biosciences by 17.5% in the first quarter. Bank of New York Mellon Corp now owns 32,688 shares of the biotechnology company’s stock worth $377,000 after buying an additional 4,863 shares during the last quarter. Institutional investors 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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