Jefferies Financial Group Comments on ALX Oncology Holdings Inc.’s Q2 2022 Earnings (NASDAQ:ALXO)

ALX Oncology Holdings Inc. (NASDAQ:ALXO – Get Rating) – Equities researchers at Jefferies Financial Group raised their Q2 2022 earnings per share estimates for ALX Oncology in a report released on Monday, May 9th. Jefferies Financial Group analyst M. Yee now forecasts that the company will post earnings per share of ($0.67) for the quarter, up from their prior estimate of ($0.95). Jefferies Financial Group also issued estimates for ALX Oncology’s Q3 2022 earnings at ($0.72) EPS, Q4 2022 earnings at ($0.79) EPS, Q1 2023 earnings at ($0.85) EPS, Q2 2023 earnings at ($0.92) EPS, Q3 2023 earnings at ($0.85) EPS, Q4 2023 earnings at ($0.91) EPS and FY2023 earnings at ($3.53) EPS.

ALX Oncology (NASDAQ:ALXO – Get Rating) last issued its quarterly earnings data on Monday, May 9th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.11.

Other equities research analysts have also issued reports about the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of ALX Oncology in a report on Friday, April 1st. Zacks Investment Research raised shares of ALX Oncology from a “sell” rating to a “hold” rating in a research note on Tuesday. HC Wainwright decreased their target price on ALX Oncology from $100.00 to $80.00 in a research report on Tuesday, March 1st. Finally, Stifel Nicolaus decreased their price objective on ALX Oncology from $60.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, March 1st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $60.29.

ALXO opened at $9.66 on Thursday. ALX Oncology has a 52-week low of $8.31 and a 52-week high of $81.19. The stock has a market capitalization of $392.98 million, a P/E ratio of -4.18 and a beta of 2.64. The company’s 50-day simple moving average is $15.80 and its two-hundred day simple moving average is $22.33.

A number of institutional investors have recently made changes to their positions in ALXO. Nisa Investment Advisors LLC purchased a new position in ALX Oncology during the 4th quarter valued at about $48,000. ACT Capital L.L.C. acquired a new stake in shares of ALX Oncology during the 3rd quarter worth about $111,000. Point72 Hong Kong Ltd purchased a new stake in ALX Oncology in the fourth quarter valued at approximately $121,000. EDBI Pte Ltd purchased a new stake in ALX Oncology in the fourth quarter valued at approximately $121,000. Finally, Virtus ETF Advisers LLC lifted its stake in ALX Oncology by 94.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 6,844 shares of the company’s stock valued at $147,000 after buying an additional 3,318 shares during the last quarter. Institutional investors own 89.42% of the company’s stock.

About ALX Oncology (Get Rating)

ALX Oncology Holdings Inc, a clinical-stage immuno-oncology company, focuses on developing therapies for patients fighting cancer. Its lead product candidate is ALX148, a CD47 blocking therapeutic that is in Phase 1b/2 clinical trial used for the treatment of myelodysplastic syndromes; and for the treatment of acute myeloid leukemia and non-Hodgkin's lymphoma, as well as a range of solid tumor indications, including head and neck squamous cell carcinoma, human epidermal growth factor receptor 2 (HER2) positive gastric/gastroesophageal junction carcinoma, HER2-expressing breast cancer, and other solid tumors.

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