$7.28 Million in Sales Expected for Calithera Biosciences (CALA) This Quarter

Equities analysts expect Calithera Biosciences (NASDAQ:CALA) to report $7.28 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Calithera Biosciences’ earnings. The lowest sales estimate is $7.25 million and the highest is $7.30 million. Calithera Biosciences posted sales of $4.19 million during the same quarter last year, which suggests a positive year-over-year growth rate of 73.7%. The company is expected to issue its next quarterly earnings report on Tuesday, May 8th.

On average, analysts expect that Calithera Biosciences will report full-year sales of $28.42 million for the current year, with estimates ranging from $28.00 million to $29.00 million. For the next fiscal year, analysts anticipate that the company will report sales of $15.39 million per share, with estimates ranging from $2.77 million to $28.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Calithera Biosciences.

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Calithera Biosciences (NASDAQ:CALA) last announced its quarterly earnings results on Thursday, March 8th. The biotechnology company reported ($0.31) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.09). Calithera Biosciences had a negative net margin of 107.21% and a negative return on equity of 17.49%. The firm had revenue of $7.24 million during the quarter, compared to the consensus estimate of $7.28 million. During the same quarter in the previous year, the company posted ($0.45) earnings per share.

CALA has been the subject of a number of research reports. Leerink Swann reiterated an “outperform” rating on shares of Calithera Biosciences in a research note on Friday, April 6th. Citigroup raised Calithera Biosciences from a “neutral” rating to a “buy” rating and raised their target price for the stock from $6.95 to $14.00 in a research report on Friday, February 16th. BidaskClub raised Calithera Biosciences from a “strong sell” rating to a “sell” rating in a research report on Friday, December 22nd. ValuEngine lowered Calithera Biosciences from a “sell” rating to a “strong sell” rating in a research report on Saturday, February 3rd. Finally, Zacks Investment Research lowered Calithera Biosciences from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Three investment analysts have rated the stock with a sell rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $18.00.

Large investors have recently made changes to their positions in the stock. Jane Street Group LLC bought a new position in Calithera Biosciences during the 4th quarter worth $103,000. Lazard Asset Management LLC bought a new position in Calithera Biosciences during the 4th quarter worth $167,000. Acadian Asset Management LLC grew its holdings in Calithera Biosciences by 1,279.5% during the 4th quarter. Acadian Asset Management LLC now owns 21,686 shares of the biotechnology company’s stock worth $181,000 after acquiring an additional 20,114 shares during the period. Ellington Management Group LLC acquired a new stake in Calithera Biosciences during the 4th quarter worth about $191,000. Finally, Two Sigma Investments LP acquired a new stake in Calithera Biosciences during the 4th quarter worth about $250,000. 68.37% of the stock is owned by institutional investors and hedge funds.

Shares of CALA remained flat at $$6.15 during trading hours on Friday. The stock had a trading volume of 201,997 shares, compared to its average volume of 549,035. Calithera Biosciences has a one year low of $5.35 and a one year high of $20.05. The company has a market cap of $220.45, a PE ratio of -7.29 and a beta of 2.62.

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About Calithera Biosciences

Calithera Biosciences, Inc, a clinical-stage bio-pharmaceutical company, focuses on the discovery and development of small molecule drugs directed against tumor metabolism and tumor immunology targets for the treatment of cancer in the United States. Its lead product candidate is CB-839, an inhibitor of glutaminase, which is in Phase II clinical trial to treat solid tumors.

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

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