Cantor Fitzgerald Lifts Earnings Estimates for ALX Oncology

ALX Oncology Holdings Inc. (NASDAQ:ALXO) – Analysts at Cantor Fitzgerald boosted their FY2024 earnings estimates for ALX Oncology in a research note issued to investors on Tuesday, November 12th. Cantor Fitzgerald analyst L. Watsek now forecasts that the company will post earnings of ($2.69) per share for the year, up from their previous estimate of ($3.08). Cantor Fitzgerald currently has a “Overweight” rating on the stock. The consensus estimate for ALX Oncology’s current full-year earnings is ($2.86) per share.

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

ALX Oncology Price Performance

Shares of ALXO stock opened at $1.29 on Friday. ALX Oncology has a twelve month low of $1.25 and a twelve month high of $17.83. The stock has a fifty day simple moving average of $1.70 and a two-hundred day simple moving average of $5.68. The stock has a market capitalization of $68.04 million, a price-to-earnings ratio of -0.45 and a beta of 1.03. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 0.07.

Hedge Funds Weigh In On ALX Oncology

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co purchased a new position in shares of ALX Oncology during the 1st quarter worth $27,000. EntryPoint Capital LLC purchased a new position in ALX Oncology in the first quarter worth approximately $32,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in ALX Oncology by 394.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,517 shares of the company’s stock valued at $39,000 after purchasing an additional 5,200 shares during the period. Rhumbline Advisers grew its holdings in shares of ALX Oncology by 10.8% during the 2nd quarter. Rhumbline Advisers now owns 55,220 shares of the company’s stock worth $333,000 after purchasing an additional 5,360 shares during the period. Finally, AQR Capital Management LLC raised its holdings in ALX Oncology by 50.7% in the 2nd quarter. AQR Capital Management LLC now owns 18,079 shares of the company’s stock valued at $109,000 after buying an additional 6,080 shares during the period. Hedge funds and other institutional investors 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.