Allena Pharmaceuticals (NASDAQ:ALNA) Raised to Buy at Zacks Investment Research


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Allena Pharmaceuticals (NASDAQ:ALNA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The firm presently has a $1.50 price objective on the stock. Zacks Investment Research‘s price target indicates a potential upside of 0.67% from the company’s current price.

According to Zacks, “Allena Pharmaceuticals, Inc. is a biopharmaceutical company. It engages in developing and commercializing oral enzyme therapeutics to treat patients with rare and severe metabolic and kidney disorders primarily in the United States. The companys product candidate includes ALLN-177 and ALLN-346 which are in clinical stages. Allena Pharmaceuticals, Inc. is headquartered in Newton, Massachusetts. “

Separately, B. Riley lifted their price objective on Allena Pharmaceuticals from $4.00 to $5.00 and gave the company a “buy” rating in a report on Thursday, October 1st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $8.21.

NASDAQ:ALNA opened at $1.49 on Tuesday. The stock has a market cap of $57.05 million, a P/E ratio of -1.18 and a beta of 2.39. The stock has a 50 day simple moving average of $1.33 and a 200 day simple moving average of $1.40. The company has a current ratio of 7.99, a quick ratio of 7.99 and a debt-to-equity ratio of 0.54. Allena Pharmaceuticals has a 1-year low of $0.53 and a 1-year high of $3.39.

Allena Pharmaceuticals (NASDAQ:ALNA) last released its quarterly earnings results on Saturday, November 14th. The company reported ($0.22) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.01). As a group, sell-side analysts forecast that Allena Pharmaceuticals will post -0.95 EPS for the current year.

In related news, CFO Edward Wholihan sold 68,550 shares of the business’s stock in a transaction on Thursday, December 17th. The stock was sold at an average price of $1.36, for a total transaction of $93,228.00. Following the sale, the chief financial officer now owns 121,272 shares in the company, valued at approximately $164,929.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Louis Md Brenner sold 103,116 shares of the business’s stock in a transaction on Thursday, December 17th. The stock was sold at an average price of $1.36, for a total value of $140,237.76. Following the sale, the chief executive officer now owns 144,816 shares in the company, valued at approximately $196,949.76. The disclosure for this sale can be found here. Company insiders own 22.80% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Worth Venture Partners LLC grew its position in Allena Pharmaceuticals by 60.3% during the 3rd quarter. Worth Venture Partners LLC now owns 408,840 shares of the company’s stock worth $605,000 after acquiring an additional 153,840 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in Allena Pharmaceuticals during the 2nd quarter worth $44,000. Finally, Advisor Group Holdings Inc. grew its position in Allena Pharmaceuticals by 81.8% during the 2nd quarter. Advisor Group Holdings Inc. now owns 20,000 shares of the company’s stock worth $32,000 after acquiring an additional 9,000 shares during the last quarter. Institutional investors and hedge funds own 28.03% of the company’s stock.

Allena Pharmaceuticals Company Profile

Allena Pharmaceuticals, Inc, a late-stage clinical biopharmaceutical company, engages in the development and commercialization of oral enzyme therapeutics to treat patients with rare and severe metabolic, and kidney disorders in the United States. The company's lead product candidate is reloxaliase, an oral enzyme therapeutic that is in phase 3 clinical program for the treatment of hyperoxaluria, a metabolic disorder commonly associated with kidney stones in adults.

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Analyst Recommendations for Allena Pharmaceuticals (NASDAQ:ALNA)

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