ALX Oncology (NASDAQ:ALXO) Issues Earnings Results, Beats Expectations By $0.17 EPS

ALX Oncology (NASDAQ:ALXO) released its quarterly earnings results on Thursday. The company reported ($0.55) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.17, Zacks reports.

ALX Oncology Price Performance

ALXO stock traded up $0.27 during midday trading on Thursday, reaching $1.31. The stock had a trading volume of 13,610,374 shares, compared to its average volume of 962,730. ALX Oncology has a 52-week low of $0.95 and a 52-week high of $17.83. 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’s fifty day simple moving average is $1.41 and its 200 day simple moving average is $1.63. The company has a market cap of $69.09 million, a price-to-earnings ratio of -0.44 and a beta of 1.01.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. UBS Group dropped their target price on ALX Oncology from $4.00 to $2.20 and set a “buy” rating on the stock in a research report on Monday, January 27th. Cantor Fitzgerald reissued an “overweight” rating on shares of ALX Oncology in a report on Friday, January 24th. Jefferies Financial Group raised ALX Oncology from a “hold” rating to a “buy” rating and upped their target price for the stock from $2.00 to $3.00 in a research note on Thursday. HC Wainwright dropped their price target 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, Piper Sandler increased their price objective on shares of ALX Oncology from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.44.

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.