Should I Buy ALXO? ALXO 2026 Analysis

Should You Buy ALX Oncology Holdings Inc (ALXO) Today? Analysis, Price Targets, and 2026 Outlook.

Conclusion

Hold

Latest Price

2.050

1 Day change

-0.49%

52 Week Range

2.410

Analysis Updated At

2026/02/04

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Not a good buy right now for an impatient investor: the stock just popped on financing news and is technically short-term overextended (RSI-6 ~75.6) into nearby resistance.
The recent $150M equity raise at $1.57 is a clear dilution overhang; upside may be choppy until the market digests the new share supply.
If you must act immediately, the risk/reward is skewed to waiting/holding rather than chasing strength near resistance (~$2.05).

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Technical Analysis

Trend/structure: Bullish alignment (SMA_5 > SMA_20 > SMA_200) suggests the trend has turned up.
Momentum: MACD histogram positive and expanding (0.0536) = bullish momentum still building.
Overbought risk: RSI_6 at 75.6 indicates a stretched short-term move (pullback risk elevated).
Levels: Pivot 1.624. Immediate resistance R1 1.885 (price ~1.90 slightly above), next resistance R2 2.046. Supports: S1 1.364, S2 1.203.
Practical read: price is pushing into the $1.88–$2.05 supply zone; chasing here is lower-quality vs buying a pullback toward the pivot/low-$1.6s.

Options Data

Bearish

Open Interest Put-Call Ratio

Bearish

Option Volume Put-Call Ratio

Sentiment: Open-interest P/C 1.07 = slightly put-heavy positioning (mildly cautious).
Flow today: Volume P/C 2.86 with puts > calls (40 puts vs 14 calls) = bearish/hedging tone despite the stock bounce.
Volatility: 30D IV 190.3% vs HV 129.35% = options pricing in large moves; market expects high uncertainty.
Activity spike: Today’s volume is ~10.0x avg 30D and today’s OI is elevated vs avg = positioning shift around the financing event.

Technical Summary

Sell

Buy

Positive Catalysts

- Event-driven: $150M financing led by notable specialist investors (RA Capital, TCGX) supports runway for evorpacept and ALX2004 development.
- Price action: strong regular-session move (+11.31%) and follow-through post-market (+1.62%) suggests buyers are present after the deal.
- Technicals: bullish moving-average stack + positive MACD momentum supports near-term trend continuation if it can clear ~$2.05 cleanly.

Neutral/Negative Catalysts

- Dilution overhang: priced offering at $1.57 and large share issuance/warrants can cap near-term upside and invite sell-the-rip behavior.
- Options tape: put-heavy volume indicates traders are hedging/leaning defensive into the move.
- Overbought short-term: RSI-6 ~75.6 raises probability of a near-term pullback.
- Macro tape: broader market was down (S&P 500 -0.85%), which can reduce risk appetite for small-cap biotech follow-through.

Financial Performance

Latest quarter: 2025/Q3.
Revenue: $0 (0% YoY change) — pre-commercial profile.
Profitability: Net income -22.144M (worse YoY by ~27.9%); EPS -0.41 (worse YoY by ~29.3%).
Takeaway: fundamentals are primarily a cash-burn + clinical-execution story; financing improves runway but does not remove clinical risk.

Growth

Profitability

Efficiency

Analyst Ratings and Price Target Trends

Recent action: Jefferies initiated (2025-11-13) with Buy and $4 price target.
Pros (Wall St view): focused pipeline (evorpacept CD47-enriched approach; ALX2004 ADC design) and encouraging data mentions support upside if trials deliver.
Cons (Wall St view): early-stage/clinical dependency and ongoing losses imply the stock will remain headline- and trial-driven; dilution/financing cycles are likely.

4 Analyst Rating

Wall Street analysts forecast ALXO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ALXO is 3 USD with a low forecast of 2 USD and a high forecast of 4 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

3 Buy

1 Hold

0 Sell

Strong Buy

Current: 2.060

Low

Averages

High

Current: 2.060

Low

Averages

High

Piper Sandler

Overweight

maintain

$3 -> $4

AI Analysis

2026-02-05

New

Reason

Piper Sandler

Price Target

$3 -> $4

AI Analysis

2026-02-05

New

maintain

Overweight

Reason

Piper Sandler raised the firm's price target on ALX Oncology to $4 from $3 and keeps an Overweight rating on the shares following several recent updates. The firm is updating its model to reflect the financing, removed gastric/GEJ revenue, and now gives credit for HER2+ and CD47-high 2L+ breast cancer.

Jefferies

NULL -> Buy

initiated

2025-11-13

Reason

Jefferies

Price Target

2025-11-13

initiated

NULL -> Buy

Reason

Jefferies initiated coverage of ALX Oncology with a Buy rating and $4 price target. ALX has strategically focused on two lead programs, Evorpacept in post-ENHERTU HER2+ mBC using prospective CD47 enrichment, supported by "encouraging" gastric data and ALX2004, an ADC with a differentiated design for wider therapeutic window in solid tumors, the analyst tells investors.

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ALXO Should I Buy

ALXO Should I Buy

Should You Buy ALX Oncology Holdings Inc (ALXO) Today? Analysis, Price Targets, and 2026 Outlook.

Technical Analysis

Options Data

Technical Summary

Positive Catalysts

Neutral/Negative Catalysts

Financial Performance

Growth

Profitability

Efficiency

Analyst Ratings and Price Target Trends

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