StockNews.com Begins Coverage on Calithera Biosciences (NASDAQ:CALA)

StockNews.com assumed coverage on shares of Calithera Biosciences (NASDAQ:CALAGet Rating) in a research report released on Tuesday morning. The firm issued a hold rating on the biotechnology company’s stock.

CALA has been the topic of a number of other research reports. LADENBURG THALM/SH SH reduced their target price on Calithera Biosciences from $60.00 to $30.00 in a report on Wednesday, May 11th. SVB Leerink reduced their target price on Calithera Biosciences from $60.00 to $40.00 and set an outperform rating on the stock in a report on Monday, April 4th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $50.00.

Calithera Biosciences stock opened at $2.59 on Tuesday. The stock’s fifty day moving average price is $5.43 and its two-hundred day moving average price is $8.84. Calithera Biosciences has a one year low of $2.31 and a one year high of $49.80. The firm has a market cap of $10.19 million, a PE ratio of -0.09 and a beta of 1.64.

Calithera Biosciences (NASDAQ:CALAGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The biotechnology company reported ($3.60) EPS for the quarter, missing analysts’ consensus estimates of ($3.40) by ($0.20). During the same period in the previous year, the company posted ($5.60) earnings per share. On average, equities analysts expect that Calithera Biosciences will post -11.7 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC lifted its holdings in Calithera Biosciences by 1,090.8% during the 4th quarter. Acadian Asset Management LLC now owns 1,856,730 shares of the biotechnology company’s stock worth $1,234,000 after buying an additional 1,700,803 shares during the period. Affinity Asset Advisors LLC acquired a new position in Calithera Biosciences during the 1st quarter worth about $404,000. Alyeska Investment Group L.P. acquired a new position in Calithera Biosciences during the 1st quarter worth about $404,000. Empery Asset Management LP acquired a new position in Calithera Biosciences during the 1st quarter worth about $313,000. Finally, Renaissance Technologies LLC lifted its holdings in Calithera Biosciences by 36.5% during the 1st quarter. Renaissance Technologies LLC now owns 1,853,500 shares of the biotechnology company’s stock worth $749,000 after buying an additional 496,100 shares during the period. 55.84% of the stock is currently owned by institutional investors.

About Calithera Biosciences (Get Rating)

Calithera Biosciences, Inc, a clinical-stage bio-pharmaceutical company, focuses on the discovery and development of small molecule compounds for tumor metabolism and tumor immunology targets for the treatment of cancer in the United States. The company offers INCB001158, an orally bioavailable arginase inhibitor of arginase that is in Phase 1/2 clinical trial for the treatment of hematology and oncology.

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