Jefferies Financial Group Upgrades ALX Oncology (NASDAQ:ALXO) to “Buy”

ALX Oncology (NASDAQ:ALXO) was upgraded by stock analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm presently has a $3.00 price objective on the stock, up from their prior price objective of $2.00. Jefferies Financial Group’s price target points to a potential upside of 183.02% from the stock’s previous close.

ALXO has been the subject of several other research reports. HC Wainwright dropped their price target on shares of ALX Oncology from $25.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Cantor Fitzgerald reissued an “overweight” rating on shares of ALX Oncology in a research report on Friday, January 24th. Finally, UBS Group dropped their price target on shares of ALX Oncology from $4.00 to $2.20 and set a “buy” rating for the company in a research report on Monday, January 27th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, ALX Oncology has a consensus rating of “Moderate Buy” and an average price target of $4.14.

ALX Oncology Price Performance

Shares of ALX Oncology stock opened at $1.06 on Thursday. ALX Oncology has a 52-week low of $0.95 and a 52-week high of $17.83. The stock has a market capitalization of $55.91 million, a price-to-earnings ratio of -0.36 and a beta of 1.01. The company has a fifty day moving average of $1.39 and a 200-day moving average of $1.62. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.82.

Institutional Investors Weigh In On ALX Oncology

Several institutional investors and hedge funds have recently modified their holdings of the stock. Almitas Capital LLC purchased a new stake in shares of ALX Oncology in the 4th quarter worth about $2,042,000. Bank of America Corp DE lifted its position in shares of ALX Oncology by 492.9% in the 4th quarter. Bank of America Corp DE now owns 1,035,326 shares of the company’s stock worth $1,729,000 after purchasing an additional 860,703 shares during the period. Bank of Montreal Can purchased a new stake in shares of ALX Oncology in the 4th quarter worth about $1,380,000. Two Sigma Advisers LP lifted its position in shares of ALX Oncology by 64.6% in the 4th quarter. Two Sigma Advisers LP now owns 823,900 shares of the company’s stock worth $1,376,000 after purchasing an additional 323,400 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of ALX Oncology by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 740,106 shares of the company’s stock worth $1,236,000 after purchasing an additional 39,259 shares during the period. 97.97% of the stock is owned by hedge funds and other institutional investors.

ALX Oncology Company Profile

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.