Piper Sandler Sticks to Its Buy Rating for ALX Oncology Holdings (ALXO)

In a report released today, Christopher Raymond from Piper Sandler maintained a Buy rating on ALX Oncology Holdings (ALXO – Research Report), with a price target of $21.00. The company’s shares closed yesterday at $16.95.

According to TipRanks, Raymond is a 4-star analyst with an average return of 5.4% and a 49.70% success rate. Raymond covers the Healthcare sector, focusing on stocks such as Biohaven Ltd., Biogen, and BioMarin Pharmaceutical.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for ALX Oncology Holdings with a $20.80 average price target, which is a 22.71% upside from current levels. In a report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $25.00 price target.

Based on ALX Oncology Holdings’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $45.47 million. In comparison, last year the company had a GAAP net loss of $30.71 million

Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ALXO in relation to earlier this year.

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ALX Oncology Holdings (ALXO) Company Description:

ALX Oncology Holdings Inc is a clinical-stage immuno-oncology company. The firm is focused on developing therapies that block the CD47 checkpoint pathway and bridge the innate and adaptive immune system.