ALX Oncology Holdings Inc. (ALXO) AI Stock Analysis

Headquartered in South San Francisco, California, ALX Oncology Holdings Inc. is a clinical-stage immuno-oncology company focused on developing therapies for cancer patients. Its lead therapeutic candidate is ALX148, a CD47 blocking agent currently undergoing Phase 1b/2 clinical trials for myelodysplastic syndromes, acute myeloid leukemia, non-Hodgkin's lymphoma, and various solid tumors. The company is also advancing ALTA-002, a SIRPa TRAAC candidate designed to enhance innate and adaptive immune responses. ALX Oncology maintains strategic collaborations with Merck to test ALX148 alongside pembrolizumab, as well as partnerships with Zymeworks and Tallac Therapeutics to explore bispecific antibodies and novel immunotherapeutics.

Historical revenue moved from $2.1M in FY2018 to $4.8M in FY2019 before falling 75.4% to $1.2M in FY2020, representing a two-year revenue CAGR of -24.4%. Net losses expanded from -$13.7M in FY2018 to -$19.2M in FY2019 and -$45.7M in FY2020, while annual research and development expenses climbed to $29.0M. Operating margins were deeply negative across this period, reaching -3694.0% in FY2020. For the trailing twelve months ended June 30, 2026, ALXO reported $0 in revenue, with quarterly revenue growth falling 100.0% year-over-year. Diluted earnings per share stood at -$1.13 over the trailing twelve months.

As of June 30, 2026, ALXO held $138.2M in cash and short-term investments against total debt of $9.7M, resulting in net cash of $128.5M. Total assets stood at $160.8M, shareholders' equity was $136.2M, and the current ratio was 9.71 with a debt-to-equity ratio of 0.07. In FY2025, capital expenditures totaled $212,000, while share issuances brought in $24,000. Over a five-year period, the company's share count increased by 234.7%.

At a market capitalization of $146.6M and an enterprise value of $72.0M, ALXO traded at a price-to-book ratio of 1.5x as of October 16, 2026. The median of its US-listed Healthcare peers traded at a price-to-sales ratio of 4.1x and an enterprise value to EBITDA ratio of 12.0x. ALXO closed at $1.06, which was 42.0% below its 200-day moving average. Over the past year, the stock declined 35.8%, compared to a 16.8% gain for the S&P 500 (SPY). Over five years, ALXO lost 98.2%, while the S&P 500 returned 83.0%.

Wall Street coverage consists of 5 Strong Buy, 1 Buy, and 1 Hold ratings. The mean price target is $4.60, representing a 334.0% premium over the last close of $1.06. For the fiscal year ending December 31, 2026, consensus estimates project $0 in revenue and an EPS of -$2.64. For the next fiscal year, six analysts project an EPS of -$0.55 on $0 in revenue. ALXO has beaten EPS estimates in 1 of its last 4 quarters. The next earnings date is November 6, 2026.

This page is an AI-written research summary of ALX Oncology Holdings Inc. (ALXO). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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