ALX Oncology (NASDAQ:ALXO) Raised to Buy at Jefferies Financial Group

ALX Oncology (NASDAQ:ALXO) was upgraded by equities researchers at Jefferies Financial Group from a “hold” rating to a “buy” rating in a report issued on Thursday,Briefing.com Automated Import reports. The firm presently has a $3.00 price target on the stock, up from their prior price target of $2.00. Jefferies Financial Group’s price target would indicate a potential upside of 188.46% from the stock’s previous close.

Several other equities research analysts have also commented on ALXO. UBS Group dropped their price objective on shares of ALX Oncology from $4.00 to $2.20 and set a “buy” rating on the stock in a research note on Monday, January 27th. 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 research note on Friday, January 24th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of ALX Oncology in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3.30.

ALX Oncology Trading Up 4.0 %

Shares of ALXO opened at $1.04 on Thursday. The firm’s 50-day moving average price is $1.41 and its 200-day moving average price is $1.63. The firm has a market capitalization of $54.85 million, a price-to-earnings ratio of -0.35 and a beta of 1.01. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 0.07. ALX Oncology has a 1-year low of $0.95 and a 1-year high of $17.83.

Institutional Trading of ALX Oncology

A number of large investors have recently made changes to their positions in ALXO. JSF Financial LLC bought a new stake in shares of ALX Oncology in the 4th quarter worth about $29,000. GSA Capital Partners LLP bought a new stake in shares of ALX Oncology in the 3rd quarter worth about $88,000. Sei Investments Co. bought a new stake in shares of ALX Oncology in the 4th quarter worth about $102,000. Barclays PLC increased its holdings in shares of ALX Oncology by 243.6% in the 3rd quarter. Barclays PLC now owns 59,502 shares of the company’s stock worth $107,000 after buying an additional 42,185 shares during the last quarter. Finally, Bridgeway Capital Management LLC purchased a new position in shares of ALX Oncology during the 4th quarter worth about $125,000. 97.97% of the stock is currently owned by institutional investors.

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.