ALX Oncology (NASDAQ:ALXO) Announces Quarterly Earnings Results, Beats Estimates By $0.17 EPS

ALX Oncology (NASDAQ:ALXO) issued its quarterly earnings results on Thursday. The company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.17, Zacks reports.

ALX Oncology Stock Performance

Shares of ALXO stock traded up $0.27 during trading hours on Thursday, reaching $1.31. 13,548,512 shares of the company’s stock were exchanged, compared to its average volume of 962,614. ALX Oncology has a fifty-two week low of $0.95 and a fifty-two week high of $17.83. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $69.09 million, a P/E ratio of -0.44 and a beta of 1.01. The business has a fifty day moving average price of $1.41 and a 200-day moving average price of $1.63.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. HC Wainwright dropped their target price on shares of ALX Oncology from $25.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Piper Sandler lifted their target price on ALX Oncology from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Thursday. Cantor Fitzgerald restated an “overweight” rating on shares of ALX Oncology in a report on Friday, January 24th. Jefferies Financial Group upgraded ALX Oncology from a “hold” rating to a “buy” rating and increased their price objective for the stock from $2.00 to $3.00 in a report on Thursday. Finally, UBS Group reduced their target price on shares of ALX Oncology from $4.00 to $2.20 and set a “buy” rating for the company in a research note on Monday, January 27th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $4.44.

About ALX Oncology

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.