ALX Oncology Holdings Inc. (NASDAQ:ALXO) Given Average Recommendation of “Buy” by Brokerages

ALX Oncology Holdings Inc. (NASDAQ:ALXOGet Rating) has earned a consensus rating of “Buy” from the eight brokerages that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $55.80.

ALXO has been the topic of several analyst reports. Stifel Nicolaus reduced their target price on ALX Oncology from $60.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, March 1st. Jefferies Financial Group cut ALX Oncology from a “buy” rating to a “hold” rating and reduced their target price for the company from $65.00 to $25.00 in a report on Wednesday, December 22nd. HC Wainwright reduced their target price on ALX Oncology from $100.00 to $80.00 in a report on Tuesday, March 1st. Cantor Fitzgerald reiterated an “overweight” rating on shares of ALX Oncology in a report on Friday, April 1st. Finally, Zacks Investment Research upgraded ALX Oncology from a “sell” rating to a “hold” rating in a report on Tuesday, February 15th.

Institutional investors and hedge funds have recently modified their holdings of the business. Invesco Ltd. lifted its stake in ALX Oncology by 6,841.9% in the third quarter. Invesco Ltd. now owns 514,815 shares of the company’s stock valued at $38,024,000 after buying an additional 507,399 shares during the period. Wellington Management Group LLP raised its position in shares of ALX Oncology by 33.5% during the third quarter. Wellington Management Group LLP now owns 3,867,142 shares of the company’s stock worth $285,627,000 after purchasing an additional 970,252 shares during the period. Goldman Sachs Group Inc. raised its position in shares of ALX Oncology by 19.6% during the third quarter. Goldman Sachs Group Inc. now owns 162,996 shares of the company’s stock worth $12,039,000 after purchasing an additional 26,663 shares during the period. Pier Capital LLC acquired a new position in shares of ALX Oncology during the third quarter worth approximately $5,566,000. Finally, Russell Investments Group Ltd. raised its position in shares of ALX Oncology by 36.6% during the fourth quarter. Russell Investments Group Ltd. now owns 41,430 shares of the company’s stock worth $889,000 after purchasing an additional 11,099 shares during the period. 85.15% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:ALXO opened at $16.01 on Friday. The stock’s 50-day moving average is $17.21 and its 200-day moving average is $30.23. ALX Oncology has a 1-year low of $13.22 and a 1-year high of $81.19.

ALX Oncology (NASDAQ:ALXOGet Rating) last released its quarterly earnings results on Monday, February 28th. The company reported ($0.70) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.77) by $0.07. As a group, sell-side analysts anticipate that ALX Oncology will post -3.26 earnings per share for the current year.

About ALX Oncology (Get Rating)

ALX Oncology Holdings Inc, a clinical-stage immuno-oncology company, focuses on developing therapies for patients fighting cancer. Its lead product candidate is ALX148, a CD47 blocking therapeutic that is in Phase 1b/2 clinical trial used for the treatment of myelodysplastic syndromes; and for the treatment of acute myeloid leukemia and non-Hodgkin's lymphoma, as well as a range of solid tumor indications, including head and neck squamous cell carcinoma, human epidermal growth factor receptor 2 (HER2) positive gastric/gastroesophageal junction carcinoma, HER2-expressing breast cancer, and other solid tumors.

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