H.C. Wainwright analyst Edward White maintained a Buy rating on Aileron Therapeutics Inc (ALRN) today and set a price target of $6. The company’s shares opened today at $0.83, close to its 52-week low of $0.52.
White commented:
“We reiterate our $6 price target which is based on probability-adjusted forecasts for ALRN-6924 for myelopreservation, and ALRN-6924 in combination with Ibrance in MDM2-amplified solid tumor patients. We use the net present value of our revenue forecast through 2028, apply a 15% POS of ALRN-6924 for myelopreservation, and a 20% POS of ALRN-6924 combination therapy with Ibrance in solid tumors, with a 4x price/sales multiple, and we include our year-end 2019 estimated fully diluted net cash of $0.66/share to arrive at our price target.”
According to TipRanks.com, White is a 5-star analyst with an average return of 17.4% and a 50.6% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Aeglea Biotherapeutics Inc, and Spectrum Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Aileron Therapeutics Inc with a $5.50 average price target.
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The company has a one-year high of $5.57 and a one-year low of $0.52. Currently, Aileron Therapeutics Inc has an average volume of 125.7K.
Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is negative on the stock.
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Aileron Therapeutics, Inc. is a clinical stage biopharmaceutical company, which engages in the development and commercialization of novel class of therapeutics for the treatment of cancer and other diseases. It focuses on its lead products candidate, ALRN-6924 which is a cell-permeating peptide that disrupts the interaction of p53 suppressors MDM2 and MDMX with tumor suppressor p53 to reactivate tumor suppression in non-mutant, or wild-type, p53 cancers. The company was founded by Gregory L. Verdine, Rosana Kapeller, Huw M. Nash, Joseph A. Yanchik III, and Loren David Walensky in June 2005 and is headquartered in Cambridge, MA.
