As the first quarter of 2021 comes to its end, investors are analyzing some of the most beneficial stocks in their portfolio and out there and deciding where they would be over the long run.
To do any kind of analysis we should bear in mind growing levels of unemployment and a vaccination rollout that has just begun, with over more than two-thirds of adults in the U.S. not yet vaccinated.
In such gloomy times, one way to find stocks aimed to result in long-term growth is to stick to the advice of analysts with a proven record of successful trades.
We checked out recent stock picks from the top-rating analysts.
Here is one of the best-performing analysts’ favorite stocks as of this writing.
ALX Oncology is a clinical-stage immuno-oncology company that strives to help patients fight cancer by creating therapies that block the CD47 checkpoint pathway and bridge the innate and adaptive immune system.
Notwithstanding the current sell-off, top H.C. Wainwright analysts give this stock a buy rating and a price target of $100 with 60% upside potential.
Analysts explain to clients that the negative buying sentiment is linked to a critical top line readout from the Phase 3 study of tilsotolimod, a TLR9 agonist from Idera. We should emphasize that on March 4, ALX Oncology signed a 50/50 partnership with Tallac Therapeutics to produce a TLR9 agonist antibody conjugate targeting signal-regulatory protein alpha (SIRPα), SIRPα TRAAC, as a cancer treatment, with an IND expected to be filed by the end of 2022.
“In our opinion, the market overreacted, as we believe the two programs utilize completely different mechanisms of action though both programs use TLR9 agonists and due to the early stage of the program, the valuation of SIRPα TRAAC has not yet been baked into ALXO price. Therefore, we believe last Friday’s sell-off creates an attractive entry point for long-term investors,” analysts comment.
On top of this, the analysts strongly believe that ALXO will present full results for ALX148, its high-affinity fusion protein binding to CD47, from the Phase 1b studies in mid-2021 and 2H21, then the stock prices will fly.
Moreover, since the latest clinical data is promising, “ALX148 data updates in both HNSCC and gastric/GEJ cancers could be near-term catalysts for the stock,” analysts say. In addition, Phase 1 data readouts for ALX148 in high-risk MDS and AML in 4Q21 and 1Q22, are going to bring additional catalysts as per analysts’ review.