UPDATE: H.C. Wainwright Starts ALX Oncology (ALXO) at Buy
- S&P 500, Dow climb for third day and close at records
- Tesla (TSLA) China Numbers 'Robust' - Wedbush
- Apple (AAPL) Shares Seen as 'Attractive' as Recent Checks Show Continuously Strong Demand - Citi
- Investors Poured More Money Into Stocks in Past 5 Months Than Last 12 Years, Says BofA, Analysts Worried About Stretched Valuations
- Amazon.com warehouse workers vote to reject forming union in Alabama
H.C. Wainwright initiates coverage on ALX Oncology (NASDAQ: ALXO) with a Buy rating and $100 price target.
The analyst commented, "ALX Oncology is a clinical-stage immuno-oncology company focused on developing novel checkpoint inhibitors (CPIs) for cancer treatment. We initiate with a Buy and $100 price target. The company’s lead candidate, ALX148, is a high-affinity fusion protein binding to CD47, a clinically-validated target that has attracted high interest from industry. Despite the breakthrough of the first-generation CPIs, significant unmet need remains as only an estimated 13% of the total cancer patients respond to them. We believe, in combination with various anti-tumor agents, ALX148 has the potential to treat a broad range of cancers. We currently project ALX148 to generate risk-adjusted revenues of $183M in 2024, growing to $1.5B by 2030."
Shares of ALX Oncology closed at $82.18 yesterday.
You May Also Be Interested In
- Ashmore Group (ASHM:LN) (AJMPF) PT Lowered to GBP4.60 at Goldman Sachs
- UPDATE: DA Davidson Starts CuriosityStream Inc. (CURI) at Buy
- SCREEN Holdings Co Ltd. (7735:JP) (DINRF) PT Raised to JPY12,300 at Macquarie
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesH.C. Wainwright
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!