Stifel lowered the firm’s price target on ALX Oncology (ALXO) to $1.50 from $3 and keeps a Hold rating on the shares. Following a R&D day and the company’s Q4 report, the firm updated its model for the quarter, restructuring, and updated cash guidance, but has reduced its odds of success and confidence in gastric cancer and awaits proof of concept data in additional tumor type regimens.
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