ALX Oncology (NASDAQ:ALXO) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of ALX Oncology (NASDAQ:ALXO) in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a $25.00 price objective on the stock. HC Wainwright also issued estimates for ALX Oncology’s Q3 2024 earnings at ($0.73) EPS, Q4 2024 earnings at ($0.67) EPS, FY2024 earnings at ($2.87) EPS, Q1 2025 earnings at ($0.61) EPS, Q2 2025 earnings at ($0.66) EPS, Q3 2025 earnings at ($0.68) EPS, Q4 2025 earnings at ($0.61) EPS, FY2025 earnings at ($2.56) EPS, FY2026 earnings at ($2.50) EPS, FY2027 earnings at ($0.64) EPS and FY2028 earnings at $1.44 EPS.

Other analysts also recently issued reports about the company. Lifesci Capital downgraded ALX Oncology from a strong-buy rating to a hold rating in a research note on Wednesday, July 31st. Cantor Fitzgerald restated an overweight rating on shares of ALX Oncology in a research note on Monday. Finally, Stifel Nicolaus restated a hold rating and issued a $3.00 target price (down from $5.00) on shares of ALX Oncology in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $17.83.

ALX Oncology Stock Performance

ALXO opened at $2.65 on Tuesday. The stock’s 50 day simple moving average is $5.85 and its 200 day simple moving average is $11.14. The stock has a market cap of $138.07 million, a P/E ratio of -0.71 and a beta of 1.06. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.21 and a quick ratio of 5.21. ALX Oncology has a 1-year low of $2.42 and a 1-year high of $17.83.

ALX Oncology (NASDAQ:ALXO) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.77) by $0.01. As a group, equities analysts anticipate that ALX Oncology will post -2.89 EPS for the current fiscal year.

Insider Transactions at ALX Oncology

In related news, CFO Peter S. Garcia bought 12,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average price of $8.53 per share, with a total value of $102,360.00. Following the completion of the transaction, the chief financial officer now owns 122,348 shares of the company’s stock, valued at approximately $1,043,628.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jaume Pons sold 20,000 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $7.90, for a total value of $158,000.00. Following the transaction, the insider now owns 593,447 shares in the company, valued at $4,688,231.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Peter S. Garcia bought 12,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was acquired at an average price of $8.53 per share, for a total transaction of $102,360.00. Following the transaction, the chief financial officer now owns 122,348 shares of the company’s stock, valued at $1,043,628.44. The disclosure for this purchase can be found here. Over the last three months, insiders sold 46,469 shares of company stock worth $363,666. 33.40% of the stock is owned by insiders.

Hedge Funds Weigh In On ALX Oncology

A number of hedge funds and other institutional investors have recently made changes to their positions in ALXO. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in ALX Oncology in the fourth quarter valued at approximately $28,000. abrdn plc bought a new position in ALX Oncology in the 4th quarter valued at $986,000. Jump Financial LLC bought a new position in ALX Oncology in the 4th quarter valued at $371,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of ALX Oncology during the 4th quarter valued at $215,000. Finally, TD Asset Management Inc purchased a new position in shares of ALX Oncology during the 4th quarter valued at $1,048,000. 97.97% of the stock is owned by institutional investors and hedge funds.

ALX Oncology Company Profile

ALX Oncology Holdings Inc, a clinical-stage immuno-oncology company, focuses on developing therapies for cancer patients in the United States. The company's lead product candidate is Evorpacept, a CD47 blocking therapeutic biologic in development as a combination therapy with other anti-cancer agents, including ASPEN-06, under Phase 2 clinical study for treating Gastric/GEJ cancer; ASPEN-07, under Phase 1 clinical study for treating urothelial cancer; and ASPEN-03 and ASPEN-04, both under Phase 2 clinical study for treating head and neck squamous cell carcinoma.