Zacks: Analysts Anticipate Calithera Biosciences Inc (CALA) Will Post Quarterly Sales of $7.28 Million

Wall Street analysts expect Calithera Biosciences Inc (NASDAQ:CALA) to report $7.28 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Calithera Biosciences’ earnings, with the lowest sales estimate coming in at $7.25 million and the highest estimate coming in at $7.30 million. The business is expected to announce its next earnings report on Thursday, March 15th.

According to Zacks, analysts expect that Calithera Biosciences will report full year sales of $7.28 million for the current fiscal year, with estimates ranging from $19.00 million to $26.00 million. For the next year, analysts anticipate that the firm will report sales of $27.09 million per share, with estimates ranging from $25.00 million to $28.27 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Calithera Biosciences.

Calithera Biosciences (NASDAQ:CALA) last posted its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.17) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.06. The firm had revenue of $7.20 million during the quarter, compared to the consensus estimate of $6.02 million.

A number of brokerages have commented on CALA. BidaskClub lowered shares of Calithera Biosciences from a “sell” rating to a “strong sell” rating in a report on Saturday, December 9th. ValuEngine lowered shares of Calithera Biosciences from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Zacks Investment Research raised shares of Calithera Biosciences from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Monday, November 6th. Finally, William Blair began coverage on shares of Calithera Biosciences in a report on Thursday, October 5th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $15.17.

In other Calithera Biosciences news, major shareholder Adage Capital Partners Gp, L.L sold 576,000 shares of the stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $15.64, for a total transaction of $9,008,640.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 16.30% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System lifted its position in Calithera Biosciences by 210.1% during the 3rd quarter. California Public Employees Retirement System now owns 43,719 shares of the biotechnology company’s stock valued at $689,000 after purchasing an additional 29,619 shares during the period. Wells Fargo & Company MN lifted its position in Calithera Biosciences by 25.8% during the 3rd quarter. Wells Fargo & Company MN now owns 33,742 shares of the biotechnology company’s stock valued at $531,000 after purchasing an additional 6,910 shares during the period. Trexquant Investment LP acquired a new position in Calithera Biosciences during the 3rd quarter valued at about $168,000. Dynamic Technology Lab Private Ltd lifted its position in Calithera Biosciences by 48.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 34,845 shares of the biotechnology company’s stock valued at $549,000 after purchasing an additional 11,368 shares during the period. Finally, American Century Companies Inc. lifted its position in Calithera Biosciences by 272.8% during the 3rd quarter. American Century Companies Inc. now owns 424,752 shares of the biotechnology company’s stock valued at $6,690,000 after purchasing an additional 310,806 shares during the period. Institutional investors own 72.19% of the company’s stock.

Calithera Biosciences (NASDAQ CALA) traded down $0.30 on Friday, hitting $8.45. 726,800 shares of the stock traded hands, compared to its average volume of 741,700. Calithera Biosciences has a fifty-two week low of $3.05 and a fifty-two week high of $20.05.

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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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Earnings History and Estimates for Calithera Biosciences (NASDAQ:CALA)

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