UBS lowered the firm’s price target on ALX Oncology (ALXO) to $1.20 from $2.20 and keeps a Buy rating on the shares. ALX Oncology’s ASPEN-03/04 trial in head and neck squamous cell carcinoma failed, but the firm has no change to its antibody-combination thesis, the analyst tells investors in a research note.
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Read More on ALXO:
- ALX Oncology reports ‘encouraging’ final results from Phase 1 evorpacept trial
- ALX Oncology reports ASPEN-03, ASPEN-04 trials did not meet primary endpoints
- ALX Oncology receives IND clearance from FDA for ALX2004
- ALX Oncology Holdings: Balancing Growth Potential and Uncertainty with a Hold Rating
- ALX Oncology price target lowered to $1.50 from $3 at Stifel