FY2024 EPS Forecast for ALX Oncology Increased by Analyst

ALX Oncology Holdings Inc. (NASDAQ:ALXO) – Research analysts at Cantor Fitzgerald boosted their FY2024 earnings per share (EPS) estimates for shares of ALX Oncology in a note issued to investors on Tuesday, November 12th. Cantor Fitzgerald analyst L. Watsek now anticipates that the company will post earnings of ($2.69) per share for the year, up from their prior forecast 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.

ALXO has been the topic of several other research reports. Stifel Nicolaus reiterated a “hold” rating and set a $3.00 price target (down previously from $5.00) on shares of ALX Oncology in a research note on Friday, August 9th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of ALX Oncology in a research report on Tuesday, August 13th. Lifesci Capital lowered shares of ALX Oncology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, UBS Group lowered their price target on shares of ALX Oncology from $25.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $12.50.

ALX Oncology Stock Performance

ALXO opened at $1.33 on Friday. The company’s 50 day moving average is $1.72 and its 200 day moving average is $5.71. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 0.07. The company has a market cap of $70.14 million, a price-to-earnings ratio of -0.45 and a beta of 1.03. ALX Oncology has a 12-month low of $1.30 and a 12-month high of $17.83.

Institutional Investors Weigh In On ALX Oncology

Institutional investors have recently modified their holdings of the stock. EntryPoint Capital LLC purchased a new stake in ALX Oncology during the 1st quarter valued at $32,000. Point72 Asset Management L.P. purchased a new stake in shares of ALX Oncology in the second quarter valued at $1,834,000. California State Teachers Retirement System raised its stake in shares of ALX Oncology by 413.8% in the first quarter. California State Teachers Retirement System now owns 22,797 shares of the company’s stock valued at $254,000 after acquiring an additional 18,360 shares during the period. Swiss National Bank purchased a new position in shares of ALX Oncology during the 1st quarter worth about $493,000. Finally, Marshall Wace LLP grew its holdings in ALX Oncology by 423.0% during the 2nd quarter. Marshall Wace LLP now owns 635,679 shares of the company’s stock valued at $3,833,000 after purchasing an additional 514,133 shares during the last quarter. 97.97% of the stock is 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.