Calliditas Therapeutics AB (publ) (NASDAQ:CALT) Shares Down 3.1% Following Weak Earnings

Calliditas Therapeutics AB (publ) (NASDAQ:CALT)’s stock price dropped 3.1% during trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $22.00 and last traded at $22.05. Approximately 2,538 shares traded hands during trading, a decline of 63% from the average daily volume of 6,946 shares. The stock had previously closed at $22.75.

The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.74). Calliditas Therapeutics AB (publ) had a negative net margin of 38.72% and a negative return on equity of 104.47%. The firm had revenue of $28.43 million for the quarter, compared to analyst estimates of $35.78 million.

Analyst Ratings Changes

Separately, HC Wainwright dropped their price objective on shares of Calliditas Therapeutics AB (publ) from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Calliditas Therapeutics AB (publ) stock. Optiver Holding B.V. bought a new position in Calliditas Therapeutics AB (publ) (NASDAQ:CALT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 980 shares of the company’s stock, valued at approximately $25,000. Institutional investors own 2.83% of the company’s stock.

Calliditas Therapeutics AB (publ) Price Performance

The company has a quick ratio of 3.08, a current ratio of 3.13 and a debt-to-equity ratio of 2.89. The company has a market capitalization of $654.78 million, a P/E ratio of -13.27 and a beta of 1.50. The company’s 50-day simple moving average is $20.60 and its 200 day simple moving average is $21.11.

Calliditas Therapeutics AB (publ) Company Profile

Calliditas Therapeutics AB (publ), a commercial-stage bio-pharmaceutical company, focused on identifying, developing, and commercializing novel treatments in orphan indications with an initial focus on renal and hepatic diseases with significant unmet medical needs in the United States, Europe, and Asia.