Aileron Therapeutics (NASDAQ:ALRN) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Aileron Therapeutics (NASDAQ:ALRN) from a hold rating to a buy rating in a research note published on Thursday morning, Zacks.com reports. They currently have $1.25 target price on the stock.

According to Zacks, “Aileron Therapeutics, Inc. is a clinical-stage biopharmaceutical company. It engages in developing and commercializing a novel class of therapeutics primarily in the United States. The companys lead product includes ALRN-6924, targets the tumor suppressor protein p53 for the treatment of a range of cancers which are in clinical stage. Aileron Therapeutics, Inc. is based in Cambridge, Massachusetts. “

ALRN stock opened at $1.10 on Thursday. Aileron Therapeutics has a twelve month low of $0.91 and a twelve month high of $2.47. The stock has a market cap of $99.61 million, a P/E ratio of -2.82 and a beta of 2.75. The business’s 50-day moving average price is $1.09 and its 200-day moving average price is $1.22.

Aileron Therapeutics (NASDAQ:ALRN) last issued its earnings results on Tuesday, August 10th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. As a group, equities analysts forecast that Aileron Therapeutics will post -0.3 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC purchased a new position in shares of Aileron Therapeutics in the 1st quarter worth approximately $67,000. Blair William & Co. IL boosted its holdings in shares of Aileron Therapeutics by 29.0% in the 1st quarter. Blair William & Co. IL now owns 345,594 shares of the company’s stock worth $494,000 after purchasing an additional 77,600 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Aileron Therapeutics by 97.1% in the 1st quarter. Renaissance Technologies LLC now owns 1,250,500 shares of the company’s stock worth $1,788,000 after purchasing an additional 616,119 shares during the period. Northern Trust Corp boosted its holdings in shares of Aileron Therapeutics by 378.0% in the 1st quarter. Northern Trust Corp now owns 127,883 shares of the company’s stock worth $183,000 after purchasing an additional 101,131 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Aileron Therapeutics by 45.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 34,654 shares of the company’s stock worth $43,000 after purchasing an additional 10,768 shares during the period. Hedge funds and other institutional investors own 36.78% of the company’s stock.

About Aileron Therapeutics

Aileron Therapeutics, Inc operates as a clinical stage chemoprotection oncology company in the United States. The company is developing ALRN-6924, which is in Phase 1 trial for solid tumor and lymphoma; Phase 2a clinical trial to treat peripheral T-cell lymphoma; Phase I clinical trial for the treatment of acute myeloid leukemia (AML) and advanced myelodysplastic syndrome (MDS); Phase 1b trial to test the combination of ALRN-6924 and cytarabine, or Ara-C, in patients with MDS; and a Phase 2a combination trial of ALRN-6924 and palbociclib in patients with tumors harboring MDM2 amplifications co-amplifications, as well as for patients with p53-mutated small cell lung cancer that has completed Phase 1b clinical trial.

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