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

ALX Oncology (NASDAQ:ALXO) released its earnings results on Thursday. The company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.17, Zacks reports.

ALX Oncology Price Performance

Shares of ALXO traded up $0.27 during trading hours on Thursday, hitting $1.31. The stock had a trading volume of 13,548,512 shares, compared to its average volume of 962,614. 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 $69.09 million, a price-to-earnings ratio of -0.44 and a beta of 1.01. The company’s fifty day moving average is $1.41 and its two-hundred day moving average is $1.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82.

Analyst Upgrades and Downgrades

ALXO has been the topic of several recent research reports. UBS Group decreased their price objective on ALX Oncology from $4.00 to $2.20 and set a “buy” rating on the stock in a report on Monday, January 27th. HC Wainwright decreased 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. Cantor Fitzgerald restated an “overweight” rating on shares of ALX Oncology in a research note on Friday, January 24th. Jefferies Financial Group raised shares of ALX Oncology from a “hold” rating to a “buy” rating and upped their target price for the company from $2.00 to $3.00 in a research note on Thursday. Finally, Piper Sandler raised their price target on shares of ALX Oncology from $8.00 to $9.00 and gave the stock an “overweight” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, ALX Oncology has an average 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.