U.S. markets closed
  • S&P Futures

    3,696.00
    +26.00 (+0.71%)
     
  • Dow Futures

    29,535.00
    +192.00 (+0.65%)
     
  • Nasdaq Futures

    11,413.00
    +96.75 (+0.85%)
     
  • Russell 2000 Futures

    1,677.30
    +14.80 (+0.89%)
     
  • Crude Oil

    77.00
    +0.29 (+0.38%)
     
  • Gold

    1,637.80
    +4.40 (+0.27%)
     
  • Silver

    18.50
    +0.02 (+0.08%)
     
  • EUR/USD

    0.9642
    +0.0031 (+0.32%)
     
  • 10-Yr Bond

    3.8780
    +0.1810 (+4.90%)
     
  • Vix

    32.26
    +2.34 (+7.82%)
     
  • GBP/USD

    1.0770
    +0.0087 (+0.82%)
     
  • USD/JPY

    144.4110
    -0.2690 (-0.19%)
     
  • BTC-USD

    19,329.25
    +521.46 (+2.77%)
     
  • CMC Crypto 200

    444.09
    +10.99 (+2.54%)
     
  • FTSE 100

    7,020.95
    +2.35 (+0.03%)
     
  • Nikkei 225

    26,529.22
    +97.67 (+0.37%)
     

This Small Cap Cancer Stock Gets An Upgrade And Price Target Bump On 'Clinical Programs Progress'

·1 min read
  • HC Wainwright updated its model on Calithera Biosciences Inc (NASDAQ: CALA), reflecting the recent Q2 earnings with no revenues and a net loss of $1.69 per share for 2022.

  • The analyst upgraded the rating to Buy from Neutral with a price target of $8.

  • At the end of 2Q22, the company had nearly $42 million in cash and cash equivalents, sufficient to fund operations into 2Q23.

  • Calithera has two ongoing clinical development programs that are expected to provide data updates in 1Q23. If positive, both drugs could be evaluated in registrational studies to achieve accelerated FDA approval.

  • HC Wainwright projects Calithera to achieve risk-adjusted revenues of $111 million by 2030.

  • "Based on these projections, we believe CALA is undervalued at the current valuation of approximately $20 million," the analysts wrote.

  • Price Action: CALA shares are up 19.20% at $3.90 on the last check Monday.

Latest Ratings for CALA

Date

Firm

Action

From

To

Jan 2022

Ladenburg Thalmann

Initiates Coverage On

Buy

Jan 2022

SVB Leerink

Upgrades

Market Perform

Outperform

Nov 2021

HC Wainwright & Co.

Downgrades

Buy

Neutral

View More Analyst Ratings for CALA

View the Latest Analyst Ratings

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.