Analyst Michael Yee of UBS maintained a Buy rating on ALX Oncology Holdings, retaining the price target of $6.00.
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Michael Yee has given his Buy rating due to a combination of factors that highlight an attractive balance of upside potential and risk for ALX Oncology. He views the company’s lead CD47 program, particularly the evorpacept combination in post-Enhertu HER2+ metastatic breast cancer, as meaningfully de-risked by prior efficacy signals in both breast and gastric cancer, especially in patients with high CD47 expression.
He also points to the upcoming Phase II breast cancer data and initial safety results from the EGFR antibody-drug conjugate as key catalysts over the next couple of years that could validate the platform and unlock substantial commercial opportunity. In his view, the combination of strong early response rates in biologically selected populations, significant unmet medical need after Enhertu, and a large potential market supports a favorable risk/reward profile at the current share price, justifying a Buy rating and maintaining the $6 price target.
Yee covers the Healthcare sector, focusing on stocks such as Gilead Sciences, Eli Lilly & Co, and Pfizer. According to TipRanks, Yee has an average return of 0.3% and a 43.25% success rate on recommended stocks.
In another report released yesterday, Piper Sandler also maintained a Buy rating on the stock with a $4.00 price target.