Oppenheimer Raises CalciMedica (NASDAQ:CALC) Price Target to $20.00

CalciMedica (NASDAQ:CALC) had its price target hoisted by equities research analysts at Oppenheimer from $14.00 to $20.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price would suggest a potential upside of 323.73% from the stock’s previous close.

CALC has been the topic of several other reports. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of CalciMedica in a research report on Tuesday. Singular Research upgraded shares of CalciMedica to a “moderate buy” rating in a report on Friday, June 28th.

CalciMedica Price Performance

Shares of CalciMedica stock opened at $4.72 on Wednesday. CalciMedica has a 1 year low of $1.75 and a 1 year high of $8.38. The business has a 50 day moving average price of $5.08 and a 200 day moving average price of $4.68. The company has a market capitalization of $50.74 million, a P/E ratio of -2.20 and a beta of 1.28.

CalciMedica (NASDAQ:CALC) last released its quarterly earnings results on Monday, May 13th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.07. As a group, research analysts expect that CalciMedica will post -2.15 EPS for the current fiscal year.

Insider Activity

In other news, Director Robert N. Wilson bought 8,443 shares of CalciMedica stock in a transaction dated Thursday, June 27th. The shares were acquired at an average cost of $3.23 per share, with a total value of $27,270.89. Following the completion of the transaction, the director now owns 258,918 shares in the company, valued at approximately $836,305.14. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 53.30% of the company’s stock.

Institutional Trading of CalciMedica

A number of hedge funds and other institutional investors have recently made changes to their positions in CALC. Meritage Portfolio Management lifted its holdings in CalciMedica by 360.0% during the 4th quarter. Meritage Portfolio Management now owns 46,000 shares of the company’s stock worth $132,000 after buying an additional 36,000 shares during the last quarter. BML Capital Management LLC raised its holdings in shares of CalciMedica by 63.8% during the fourth quarter. BML Capital Management LLC now owns 145,424 shares of the company’s stock worth $416,000 after purchasing an additional 56,643 shares during the period. Finally, Hudson Bay Capital Management LP bought a new position in shares of CalciMedica in the 3rd quarter worth about $432,000.

About CalciMedica

CalciMedica, Inc, a clinical-stage biopharmaceutical company, focuses on developing therapeutics for illnesses caused by inflammatory and immunologic processes and direct cellular damage. The company's lead product candidate comprises Auxora, an intravenous formulated small molecule calcium release-activated (CRAC) channel inhibitors, which is in phase 2 clinical trials for the treatment of acute pancreatitis, asparaginase induced pancreatic toxicity, and acute kidney injury, as well as severe COVID-19 pneumonia.