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Why Calithera Biosciences (CALA) Could Be Positioned for a Surge


Calithera Biosciences, Inc. CALA is a clinical-stage biopharmaceutical company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CALA’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Calithera Biosciences could be a solid choice for investors.

Current Quarter Estimates for CALA

In the past 30 days, one estimate has gone higher for Calithera Biosciences while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 27 cents a share 30 days ago, to a loss of 24 cents today, a move of 11.1%.

Current Year Estimates for CALA

Meanwhile, Calithera Biosciences’s current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of $1.11 per share 30 days ago to a loss of 99 cents per share today, an increase of 10.8%.

Calithera Biosciences, Inc. Price and Consensus

Calithera Biosciences, Inc. Price and Consensus | Calithera Biosciences, Inc. Quote

Bottom Line

The stock has also started to move higher lately, adding 8.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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