Allena Pharmaceuticals (NASDAQ:ALNA) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Allena Pharmaceuticals (NASDAQ:ALNA) from a hold rating to a sell rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “Allena Pharmaceuticals, Inc. is a biopharmaceutical company. It engages in developing and commercializing oral enzyme therapeutics to treat patients with rare and severe metabolic and kidney disorders primarily in the United States. The companys product candidate includes ALLN-177 and ALLN-346 which are in clinical stages. Allena Pharmaceuticals, Inc. is headquartered in Newton, Massachusetts. “

Several other research firms have also recently issued reports on ALNA. ValuEngine raised Allena Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, August 1st. Roth Capital lowered their price objective on Allena Pharmaceuticals from $61.00 to $31.00 in a research report on Thursday, August 8th. Wedbush reaffirmed a buy rating and issued a $26.00 price objective on shares of Allena Pharmaceuticals in a research report on Thursday, October 17th. Cowen reaffirmed a buy rating on shares of Allena Pharmaceuticals in a research report on Friday, August 9th. Finally, Credit Suisse Group lowered their price objective on Allena Pharmaceuticals from $26.00 to $7.00 and set an outperform rating on the stock in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Allena Pharmaceuticals has an average rating of Buy and an average price target of $17.96.

NASDAQ:ALNA traded down $0.24 during mid-day trading on Tuesday, reaching $2.00. 2,552,300 shares of the company’s stock traded hands, compared to its average volume of 131,828. The firm has a market capitalization of $138.45 million, a price-to-earnings ratio of -1.16 and a beta of 2.02. Allena Pharmaceuticals has a 12-month low of $1.90 and a 12-month high of $10.66. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.80 and a quick ratio of 6.80. The company has a 50 day moving average price of $4.61 and a 200-day moving average price of $4.66.

Allena Pharmaceuticals (NASDAQ:ALNA) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.01). As a group, analysts forecast that Allena Pharmaceuticals will post -1.98 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wedbush Securities Inc. lifted its holdings in shares of Allena Pharmaceuticals by 66.6% during the 3rd quarter. Wedbush Securities Inc. now owns 25,650 shares of the company’s stock valued at $101,000 after buying an additional 10,250 shares during the period. Susquehanna International Group LLP bought a new position in shares of Allena Pharmaceuticals during the 2nd quarter valued at $137,000. Jane Street Group LLC bought a new position in shares of Allena Pharmaceuticals during the 2nd quarter valued at $116,000. Paloma Partners Management Co bought a new position in shares of Allena Pharmaceuticals during the 2nd quarter valued at $212,000. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Allena Pharmaceuticals by 17.0% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 41,587 shares of the company’s stock valued at $169,000 after buying an additional 6,030 shares during the period. 65.41% of the stock is currently owned by hedge funds and other institutional investors.

Allena Pharmaceuticals Company Profile

Allena Pharmaceuticals, Inc, a late-stage clinical biopharmaceutical company, engages in the development and commercialization of oral enzyme therapeutics to treat patients with rare and severe metabolic, and kidney disorders in the United States and internationally. The company's lead product candidate is reloxaliase, an oral enzyme therapeutic for the treatment of enteric hyperoxaluria, a metabolic disorder commonly associated with kidney stones in adults.

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