UPDATE: H.C. Wainwright Starts ALX Oncology (ALXO) at Buy

February 10, 2021 6:08 AM EST
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Price: $63.77 -11.65%

Rating Summary:
    5 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 14 | New: 42
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(Updated - February 10, 2021 6:56 AM EST)

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."

For an analyst ratings summary and ratings history on ALX Oncology click here. For more ratings news on ALX Oncology click here.

Shares of ALX Oncology closed at $82.18 yesterday.

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