Brokers Set Expectations for ALX Oncology FY2024 Earnings

ALX Oncology Holdings Inc. (NASDAQ:ALXO - Free Report) - Cantor Fitzgerald upped their FY2024 earnings estimates for shares of ALX Oncology in a research report issued to clients and investors on Tuesday, November 12th. Cantor Fitzgerald analyst L. Watsek now expects that the company will earn ($2.69) per share for the year, up from their prior forecast of ($3.08). Cantor Fitzgerald has a "Overweight" rating on the stock. The consensus estimate for ALX Oncology's current full-year earnings is ($2.86) per share.

Other analysts also recently issued reports about the stock. Lifesci Capital downgraded shares of ALX Oncology from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 31st. Stifel Nicolaus reiterated a "hold" rating and issued a $3.00 target price (down previously from $5.00) on shares of ALX Oncology in a research note on Friday, August 9th. UBS Group dropped their price objective on shares of ALX Oncology from $25.00 to $4.00 and set a "buy" rating for the company in a research note on Friday, August 16th. Finally, HC Wainwright reissued a "buy" rating and set a $25.00 price objective on shares of ALX Oncology in a report on Tuesday, August 13th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, ALX Oncology presently has an average rating of "Moderate Buy" and a consensus price target of $12.50.

ALX Oncology Stock Performance

Shares of NASDAQ ALXO traded down $0.04 during midday trading on Friday, hitting $1.29. 573,890 shares of the company's stock were exchanged, compared to its average volume of 778,929. The stock's 50 day moving average price is $1.70 and its 200-day moving average price is $5.68. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82. The firm has a market cap of $68.04 million, a P/E ratio of -0.45 and a beta of 1.03. ALX Oncology has a twelve month low of $1.25 and a twelve month high of $17.83.

Hedge Funds Weigh In On ALX Oncology

A number of large investors have recently bought and sold shares of the company. Redmile Group LLC raised its holdings in shares of ALX Oncology by 18.2% during the 1st quarter. Redmile Group LLC now owns 4,326,509 shares of the company's stock worth $48,241,000 after buying an additional 667,245 shares in the last quarter. Marshall Wace LLP increased its stake in shares of ALX Oncology by 423.0% in the 2nd quarter. Marshall Wace LLP now owns 635,679 shares of the company's stock valued at $3,833,000 after acquiring an additional 514,133 shares in the last quarter. Privium Fund Management B.V. bought a new stake in ALX Oncology in the 2nd quarter valued at about $2,271,000. XTX Topco Ltd acquired a new stake in ALX Oncology in the 3rd quarter valued at $578,000. Finally, Point72 Asset Management L.P. acquired a new position in ALX Oncology during the 2nd quarter valued at about $1,834,000. Institutional investors and hedge funds own 97.97% of the company's stock.

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.