Calliditas Therapeutics AB (publ) (NASDAQ:CALT) Cut to Sell at Zacks Investment Research

Calliditas Therapeutics AB (publ) (NASDAQ:CALTGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “Calliditas Therapeutics AB is a specialty pharmaceutical company. It is focused on developing pharmaceutical products for patients with a significant unmet medical need. The compnay’s lead candidate consist Nefecon. Calliditas Therapeutics AB is based in Stockholm, Sweden. “

Shares of CALT stock traded down $0.65 on Monday, hitting $18.80. The stock had a trading volume of 15,698 shares, compared to its average volume of 18,740. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.48 and a quick ratio of 7.47. The firm has a market capitalization of $492.02 million, a P/E ratio of -7.49 and a beta of 2.09. Calliditas Therapeutics AB has a 1 year low of $12.55 and a 1 year high of $33.19. The company’s 50 day moving average price is $17.29 and its 200-day moving average price is $19.19.

Calliditas Therapeutics AB (publ) (NASDAQ:CALTGet Rating) last posted its quarterly earnings data on Thursday, February 24th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.16). The company had revenue of $3.52 million during the quarter. On average, equities analysts forecast that Calliditas Therapeutics AB will post -1.74 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the company. Morgan Stanley boosted its position in shares of Calliditas Therapeutics AB (publ) by 97.9% during the 3rd quarter. Morgan Stanley now owns 2,005 shares of the company’s stock worth $43,000 after acquiring an additional 992 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Calliditas Therapeutics AB (publ) by 573.6% during the 4th quarter. Bank of America Corp DE now owns 1,300 shares of the company’s stock worth $32,000 after acquiring an additional 1,107 shares in the last quarter. Ironwood Investment Management LLC boosted its position in shares of Calliditas Therapeutics AB (publ) by 5.5% in the 1st quarter. Ironwood Investment Management LLC now owns 28,762 shares of the company’s stock valued at $551,000 after purchasing an additional 1,495 shares during the period. Jane Street Group LLC acquired a new stake in shares of Calliditas Therapeutics AB (publ) in the 1st quarter valued at about $221,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Calliditas Therapeutics AB (publ) in the 3rd quarter valued at about $294,000. 25.10% of the stock is owned by institutional investors and hedge funds.

Calliditas Therapeutics AB (publ) Company Profile (Get Rating)

Calliditas Therapeutics AB (publ), a clinical-stage biopharmaceutical company, focused on identifying, developing, and commercializing pharmaceuticals products for treatments in orphan indications with initial focus on renal and hepatic diseases. The company's lead product candidate is Nefecon, a oral formulation of budesonide that is an immunosuppressant for the treatment of the autoimmune renal disease IgA nephropathy.

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