Brokers Offer Predictions for Calithera Biosciences, Inc.’s Q2 2022 Earnings (NASDAQ:CALA)

Calithera Biosciences, Inc. (NASDAQ:CALA – Get Rating) – SVB Leerink cut their Q2 2022 earnings per share estimates for Calithera Biosciences in a report issued on Tuesday, May 10th. SVB Leerink analyst J. Chang now expects that the biotechnology company will post earnings of ($0.13) per share for the quarter, down from their prior forecast of ($0.12). SVB Leerink currently has a “Outperform” rating and a $2.00 target price on the stock. SVB Leerink also issued estimates for Calithera Biosciences’ Q4 2022 earnings at ($0.10) EPS.

Calithera Biosciences (NASDAQ:CALA – Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.18). During the same period in the prior year, the firm earned ($0.28) EPS.

A number of other brokerages have also recently weighed in on CALA. StockNews.com assumed coverage on Calithera Biosciences in a research note on Thursday. They issued a “hold” rating on the stock. Zacks Investment Research downgraded Calithera Biosciences from a “buy” rating to a “hold” rating in a research report on Tuesday, April 12th. Finally, LADENBURG THALM/SH SH lowered their price objective on Calithera Biosciences from $3.00 to $1.50 in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $2.00.

Shares of CALA opened at $0.16 on Friday. The firm has a market capitalization of $12.68 million, a price-to-earnings ratio of -0.11 and a beta of 1.64. Calithera Biosciences has a one year low of $0.15 and a one year high of $2.59. The stock’s fifty day moving average is $0.37 and its 200-day moving average is $0.63.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. bought a new position in shares of Calithera Biosciences in the third quarter worth $27,000. Tudor Investment Corp Et Al bought a new stake in shares of Calithera Biosciences in the 3rd quarter worth approximately $59,000. Bank of America Corp DE boosted its position in shares of Calithera Biosciences by 90.4% in the 2nd quarter. Bank of America Corp DE now owns 100,212 shares of the biotechnology company’s stock worth $209,000 after purchasing an additional 47,568 shares in the last quarter. TSP Capital Management Group LLC raised its holdings in Calithera Biosciences by 22.6% in the 1st quarter. TSP Capital Management Group LLC now owns 429,210 shares of the biotechnology company’s stock worth $1,062,000 after acquiring an additional 79,010 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Calithera Biosciences by 16.3% in the 3rd quarter. Geode Capital Management LLC now owns 804,384 shares of the biotechnology company’s stock worth $1,753,000 after acquiring an additional 112,622 shares during the last quarter. 55.84% of the stock is currently owned by hedge funds and other 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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