ALX Oncology Holdings Inc. (NASDAQ:ALXO) Stock Has Consensus Target Price of $4.60 According to Analysts

Key Points

• Analyst sentiment is moderately positive: Six analysts rate ALX Oncology a consensus “Moderate Buy,” with five buys and one sell. The average 12-month price target is $4.60, compared with the stock’s recent price of $1.18.
• Institutional ownership is substantial: Hedge funds and other institutions own 97.97% of the company, with major investors including venBio Partners, Redmile Group, BlackRock, Vivo Capital, and 5AM Venture Management.
• ALX Oncology is a loss-making clinical-stage biotech: The company focuses on cancer immunotherapies, led by the investigational drug evorpacept. It recently reported a quarterly loss of $0.13 per share, slightly better than the expected $0.14 loss.

ALX Oncology Holdings Inc. (NASDAQ:ALXO - Get Free Report) has been assigned an average rating of "Moderate Buy" from the six ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $4.60.

Separately, Weiss Ratings raised shares of ALX Oncology from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, September 17th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. venBio Partners LLC purchased a new stake in shares of ALX Oncology during the 2nd quarter worth $26,671,201. Redmile Group LLC boosted its position in shares of ALX Oncology by 143.9% in the 1st quarter. Redmile Group LLC now owns 7,964,188 shares of the company's stock valued at $15,968,000 after purchasing an additional 4,699,470 shares during the period. BlackRock Inc. purchased a new position in shares of ALX Oncology during the second quarter worth approximately $15,317,000. Vivo Capital LLC acquired a new stake in ALX Oncology during the 1st quarter worth $6,385,000. Finally, 5AM Venture Management LLC purchased a new position in ALX Oncology during the 2nd quarter worth $6,328,663. Hedge funds and other institutional investors own 97.97% of the company's stock.

ALX Oncology Price Performance

ALX Oncology stock opened at $1.18 on Thursday. The company has a market capitalization of $163.17 million, a price-to-earnings ratio of -1.04 and a beta of 0.47. The company has a debt-to-equity ratio of 0.07, a quick ratio of 9.71 and a current ratio of 9.71. ALX Oncology has a 1 year low of $0.86 and a 1 year high of $2.66. The company's 50 day simple moving average is $1.55 and its 200-day simple moving average is $1.82.

ALX Oncology (NASDAQ:ALXO - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.01. As a group, equities research analysts expect that ALX Oncology will post -0.59 earnings per share for the current year.

About ALX Oncology

ALX Oncology Holdings Inc NASDAQ: ALXO is a clinical-stage biopharmaceutical company focused on developing immunotherapies for the treatment of cancer. The company's research centers on the CD47-SIRPα pathway, an immune checkpoint that cancer cells can use to evade detection and destruction by the immune system.

ALX Oncology's lead product candidate is evorpacept, also known as ALX148, an investigational protein designed to block CD47 while supporting the activity of therapeutic antibodies and other anti-cancer treatments.

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