Calithera Biosciences, Inc. (NASDAQ:CALA) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday. The firm presently has a $21.00 price target on the biotechnology company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 16.99% from the stock’s previous close.

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 analysts also recently weighed in on CALA. BidaskClub upgraded Calithera Biosciences from a “hold” rating to a “buy” rating in a research report on Friday. 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. HC Wainwright reiterated a “buy” rating and set a $14.00 target price (up from $10.00) 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. Finally, 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. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $15.50.

Shares of Calithera Biosciences (NASDAQ CALA) traded down 0.55% on Tuesday, reaching $17.95. 647,815 shares of the company’s stock were exchanged. Calithera Biosciences has a one year low of $2.20 and a one year high of $18.70. The company’s 50 day moving average is $14.97 and its 200-day moving average is $10.21. The stock’s market cap is $633.53 million.

Calithera Biosciences (NASDAQ:CALA) last issued its quarterly earnings results on Tuesday, May 9th. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.14. The company had revenue of $4.19 million during the quarter, compared to the consensus estimate of $1.40 million. On average, analysts anticipate that Calithera Biosciences will post ($0.85) EPS for the current year.

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Several hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. acquired a new stake in Calithera Biosciences during the first quarter valued at $117,000. Nationwide Fund Advisors acquired a new stake in Calithera Biosciences during the first quarter valued at $131,000. KCG Holdings Inc. acquired a new stake in Calithera Biosciences during the first quarter valued at $144,000. Paloma Partners Management Co acquired a new stake in Calithera Biosciences during the first quarter valued at $160,000. Finally, ClariVest Asset Management LLC acquired a new stake in Calithera Biosciences during the first quarter valued at $194,000. Institutional investors and hedge funds own 54.18% of the company’s stock.

Calithera Biosciences Company Profile

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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