Calithera Biosciences (NASDAQ:CALA) Raised to “Buy” at ValuEngine

Calithera Biosciences (NASDAQ:CALA) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.

Several other equities research analysts have also commented on CALA. Zacks Investment Research raised shares of Calithera Biosciences from a “sell” rating to a “hold” rating in a research note on Monday, November 18th. HC Wainwright began coverage on shares of Calithera Biosciences in a research note on Wednesday, November 27th. They set a “buy” rating and a $7.00 price objective on the stock. Finally, Citigroup set a $8.00 price objective on shares of Calithera Biosciences and gave the stock a “hold” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $6.50.

Shares of NASDAQ CALA traded up $0.20 during midday trading on Wednesday, hitting $4.69. 301,400 shares of the company traded hands, compared to its average volume of 309,080. Calithera Biosciences has a 12-month low of $2.45 and a 12-month high of $6.90. The company has a debt-to-equity ratio of 0.06, a quick ratio of 7.39 and a current ratio of 7.39. The stock has a 50-day moving average price of $3.50 and a 200 day moving average price of $4.03. The firm has a market cap of $241.47 million, a P/E ratio of -3.15 and a beta of 2.02.

Calithera Biosciences (NASDAQ:CALA) last announced its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.07. As a group, equities analysts expect that Calithera Biosciences will post -1.92 earnings per share for the current year.

In other Calithera Biosciences news, major shareholder Bvf Partners L. P/Il bought 128,488 shares of Calithera Biosciences stock in a transaction on Thursday, November 14th. The stock was acquired at an average cost of $3.37 per share, with a total value of $433,004.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bvf Partners L. P/Il bought 1,598,977 shares of Calithera Biosciences stock in a transaction on Tuesday, October 29th. The shares were acquired at an average cost of $2.60 per share, with a total value of $4,157,340.20. The disclosure for this purchase can be found here. In the last quarter, insiders bought 4,404,157 shares of company stock worth $13,700,668. Insiders own 17.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Millennium Management LLC purchased a new stake in Calithera Biosciences during the third quarter valued at approximately $392,000. California State Teachers Retirement System increased its stake in shares of Calithera Biosciences by 43.5% in the third quarter. California State Teachers Retirement System now owns 73,521 shares of the biotechnology company’s stock worth $227,000 after purchasing an additional 22,298 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Calithera Biosciences in the third quarter worth $95,000. State Street Corp increased its stake in shares of Calithera Biosciences by 10.1% in the third quarter. State Street Corp now owns 737,479 shares of the biotechnology company’s stock worth $2,279,000 after purchasing an additional 67,628 shares in the last quarter. Finally, Grimes & Company Inc. purchased a new stake in shares of Calithera Biosciences in the third quarter worth $63,000. 65.82% of the stock is owned by institutional investors and hedge funds.

About Calithera Biosciences

Calithera Biosciences, Inc, a clinical-stage bio-pharmaceutical company, focuses on the discovery and development of small molecule drugs directed against tumor metabolism and tumor immunology targets for the treatment of cancer in the United States. Its lead product candidate is CB-839, an inhibitor of glutaminase, which is in Phase II clinical trial to treat solid tumors.

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