Brokerages Expect Calithera Biosciences Inc (CALA) Will Post Quarterly Sales of $5.17 Million

Equities analysts expect that Calithera Biosciences Inc (NASDAQ:CALA) will report $5.17 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Calithera Biosciences’ earnings, with estimates ranging from $5.13 million to $5.20 million. Calithera Biosciences reported sales of $7.26 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 28.8%. The firm is expected to report its next quarterly earnings results on Tuesday, August 14th.

On average, analysts expect that Calithera Biosciences will report full year sales of $22.46 million for the current year, with estimates ranging from $20.58 million to $26.00 million. For the next fiscal year, analysts expect that the company will post sales of $17.90 million per share, with estimates ranging from $1.71 million to $28.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that cover Calithera Biosciences.

Calithera Biosciences (NASDAQ:CALA) last released its earnings results on Thursday, May 10th. The biotechnology company reported ($0.37) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.05). Calithera Biosciences had a negative return on equity of 22.92% and a negative net margin of 131.51%. The firm had revenue of $5.19 million for the quarter, compared to analysts’ expectations of $7.28 million.



A number of research firms recently weighed in on CALA. ValuEngine upgraded shares of Calithera Biosciences from a “sell” rating to a “hold” rating in a research note on Thursday, July 5th. Zacks Investment Research upgraded shares of Calithera Biosciences from a “sell” rating to a “hold” rating in a research note on Tuesday, May 15th. Finally, Leerink Swann reiterated an “outperform” rating on shares of Calithera Biosciences in a research note on Friday, April 6th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Calithera Biosciences currently has an average rating of “Hold” and a consensus price target of $16.50.

Shares of CALA stock traded down $0.40 during trading hours on Friday, reaching $4.30. 518,103 shares of the stock were exchanged, compared to its average volume of 488,949. Calithera Biosciences has a 12-month low of $4.30 and a 12-month high of $20.05. The firm has a market capitalization of $173.85 million, a price-to-earnings ratio of -5.47 and a beta of 2.53.

A number of institutional investors have recently made changes to their positions in the business. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in shares of Calithera Biosciences in the fourth quarter valued at approximately $370,000. Lazard Asset Management LLC acquired a new stake in shares of Calithera Biosciences in the fourth quarter valued at approximately $167,000. Bank of New York Mellon Corp boosted its holdings in shares of Calithera Biosciences by 20.6% in the fourth quarter. Bank of New York Mellon Corp now owns 132,678 shares of the biotechnology company’s stock valued at $1,108,000 after acquiring an additional 22,688 shares during the period. Sofinnova Ventures Inc acquired a new stake in shares of Calithera Biosciences in the first quarter valued at approximately $126,000. Finally, ClariVest Asset Management LLC boosted its holdings in shares of Calithera Biosciences by 21.7% in the first quarter. ClariVest Asset Management LLC now owns 70,778 shares of the biotechnology company’s stock valued at $445,000 after acquiring an additional 12,604 shares during the period. Institutional investors own 62.82% of the company’s stock.

Calithera Biosciences Company Profile

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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