Calliditas Therapeutics AB (publ) (NASDAQ:CALT) Raised to Hold at Zacks Investment Research


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Calliditas Therapeutics AB (publ) (NASDAQ:CALT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Calliditas Therapeutics AB is a specialty pharmaceutical company. It is focused on developing pharmaceutical products for patients with a significant unmet medical need. The compnay’s lead candidate consist Nefecon. Calliditas Therapeutics AB is based in Stockholm, Sweden. “

Separately, BidaskClub cut shares of Calliditas Therapeutics AB (publ) from a “hold” rating to a “sell” rating in a research report on Thursday, January 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $37.00.

Shares of CALT stock traded down $0.62 during trading on Wednesday, hitting $30.00. The company had a trading volume of 100 shares, compared to its average volume of 19,676. The stock’s 50-day moving average is $33.31 and its two-hundred day moving average is $27.03. The stock has a market capitalization of $719.07 million and a price-to-earnings ratio of -21.58. Calliditas Therapeutics AB has a 52 week low of $19.00 and a 52 week high of $38.00.

Calliditas Therapeutics AB (publ) (NASDAQ:CALT) last posted its quarterly earnings data on Thursday, November 12th. The company reported ($0.62) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.23). On average, research analysts anticipate that Calliditas Therapeutics AB will post -1.81 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in Calliditas Therapeutics AB (publ) in the third quarter worth $29,000. Logos Global Management LP lifted its position in Calliditas Therapeutics AB (publ) by 83.3% during the third quarter. Logos Global Management LP now owns 550,000 shares of the company’s stock valued at $13,200,000 after buying an additional 250,000 shares during the period. Finally, Jane Street Group LLC lifted its position in Calliditas Therapeutics AB (publ) by 13.8% during the third quarter. Jane Street Group LLC now owns 10,278 shares of the company’s stock valued at $244,000 after buying an additional 1,243 shares during the period. Institutional investors and hedge funds own 11.85% of the company’s stock.

About Calliditas Therapeutics AB (publ)

Calliditas Therapeutics AB (publ) operates as a biopharmaceutical company in Stockholm, Sweden. It focuses on identifying, developing, and commercializing pharmaceutical products for patients with unmet medical needs. The company's lead product candidate is Nefecon, a unique formulation optimized to combine a time lag effect with a concentrated release of the active substance budesonide, within a designated target area.

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