ALX Oncology (NASDAQ:INZY) Earns Outperform Rating from Analysts at Wedbush

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Wedbush initiated coverage on shares of ALX Oncology (NASDAQ:INZY) in a report published on Tuesday, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $35.00 price target on the stock. Wedbush also issued estimates for ALX Oncology’s Q2 2020 earnings at ($3.63) EPS, Q3 2020 earnings at ($0.23) EPS, Q4 2020 earnings at ($0.23) EPS, FY2020 earnings at ($1.95) EPS, FY2021 earnings at ($1.34) EPS, FY2022 earnings at ($1.53) EPS, FY2023 earnings at ($1.86) EPS and FY2024 earnings at $1.49 EPS.

A number of other brokerages also recently issued reports on INZY. Cowen initiated coverage on ALX Oncology in a report on Tuesday. They set an outperform rating on the stock. BofA Securities initiated coverage on ALX Oncology in a report on Tuesday. They set a buy rating and a $33.00 price target on the stock. Piper Sandler initiated coverage on ALX Oncology in a report on Tuesday. They set an overweight rating and a $40.00 price target on the stock. Finally, Bank of America initiated coverage on ALX Oncology in a report on Tuesday. They set a buy rating and a $33.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, ALX Oncology currently has a consensus rating of Buy and an average price target of $35.25.

Shares of INZY opened at $28.50 on Tuesday. ALX Oncology has a 12 month low of $16.10 and a 12 month high of $31.27.

In other news, Director Robert Lorne Hopfner acquired 187,500 shares of ALX Oncology stock in a transaction that occurred on Tuesday, July 28th. The stock was bought at an average price of $16.00 per share, for a total transaction of $3,000,000.00. Also, major shareholder Longitude Capital Partners Iii acquired 625,000 shares of ALX Oncology stock in a transaction that occurred on Tuesday, July 28th. The shares were purchased at an average price of $16.00 per share, with a total value of $10,000,000.00.

ALX Oncology Company Profile

Inozyme Pharma, Inc, a rare disease biopharmaceutical company, engages in developing therapeutics for treating abnormal mineralization impacting the vasculature, soft tissue, and skeleton diseases. The company's lead product candidate is INZ-701, a soluble, recombinant protein to treat the rare genetic diseases of ENPP1 and ABCC6 deficiencies, as well as in the early stages of development for calciphylaxis.

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Analyst Recommendations for ALX Oncology (NASDAQ:INZY)

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