Zacks Investment Research Upgrades Aileron Therapeutics (NASDAQ:ALRN) to Buy

Aileron Therapeutics (NASDAQ:ALRN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The brokerage currently has a $1.25 target price on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 15.74% from the company’s previous close.

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. “

NASDAQ ALRN traded down $0.02 during trading on Thursday, hitting $1.08. 5,725 shares of the company’s stock traded hands, compared to its average volume of 1,897,512. The stock has a market capitalization of $97.80 million, a price-to-earnings ratio of -2.77 and a beta of 2.75. Aileron Therapeutics has a 12-month low of $0.91 and a 12-month high of $2.47. The business has a 50 day moving average of $1.09 and a 200-day moving average of $1.22.

Aileron Therapeutics (NASDAQ:ALRN) last announced its quarterly earnings results on Tuesday, August 10th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. On average, research analysts expect that Aileron Therapeutics will post -0.3 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its stake in Aileron Therapeutics by 45.1% in the second quarter. Envestnet Asset Management Inc. now owns 34,654 shares of the company’s stock valued at $43,000 after purchasing an additional 10,768 shares in the last quarter. Morgan Stanley grew its position in Aileron Therapeutics by 222.6% during the second quarter. Morgan Stanley now owns 37,722 shares of the company’s stock valued at $47,000 after acquiring an additional 26,030 shares during the last quarter. Acadian Asset Management LLC grew its position in Aileron Therapeutics by 30.8% during the first quarter. Acadian Asset Management LLC now owns 134,419 shares of the company’s stock valued at $192,000 after acquiring an additional 31,632 shares during the last quarter. Boothbay Fund Management LLC grew its holdings in shares of Aileron Therapeutics by 11.8% in the second quarter. Boothbay Fund Management LLC now owns 393,015 shares of the company’s stock worth $491,000 after purchasing an additional 41,393 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in Aileron Therapeutics in the first quarter worth $67,000. 36.78% of the stock is currently owned by institutional investors and hedge funds.

Aileron Therapeutics Company Profile

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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