Allena Pharmaceuticals (ALNA) Announces Quarterly Earnings Results

Allena Pharmaceuticals (NASDAQ:ALNA) announced its earnings results on Tuesday, August 7th. The company reported ($0.42) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.02), Bloomberg Earnings reports.

NASDAQ ALNA traded up $0.15 during trading hours on Friday, reaching $10.90. The company’s stock had a trading volume of 30,700 shares, compared to its average volume of 98,336. The stock has a market capitalization of $222.67 million and a price-to-earnings ratio of -2.27. Allena Pharmaceuticals has a 1-year low of $6.13 and a 1-year high of $17.56. The company has a current ratio of 29.32, a quick ratio of 29.32 and a debt-to-equity ratio of 0.15.

ALNA has been the subject of a number of research reports. LADENBURG THALM/SH SH initiated coverage on Allena Pharmaceuticals in a research report on Thursday, August 2nd. They set a “buy” rating and a $23.00 price target for the company. Wedbush reaffirmed an “outperform” rating and set a $38.00 price target on shares of Allena Pharmaceuticals in a research report on Tuesday, July 24th. Cowen reaffirmed a “buy” rating on shares of Allena Pharmaceuticals in a research report on Wednesday, August 8th. Zacks Investment Research raised Allena Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, May 11th. Finally, B. Riley boosted their price objective on Allena Pharmaceuticals from $23.50 to $25.00 and gave the company a “buy” rating in a report on Wednesday, August 8th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $29.14.

An institutional investor recently raised its position in Allena Pharmaceuticals stock. Bank of New York Mellon Corp increased its holdings in Allena Pharmaceuticals Inc (NASDAQ:ALNA) by 205.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,137 shares of the company’s stock after purchasing an additional 20,954 shares during the quarter. Bank of New York Mellon Corp owned 0.15% of Allena Pharmaceuticals worth $406,000 at the end of the most recent reporting period. 84.90% of the stock is owned by hedge funds and other institutional investors.

About Allena Pharmaceuticals

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 ALLN-177, an oral enzyme therapeutic for the treatment of enteric hyperoxaluria, a metabolic disorder commonly associated with kidney stones in adults.

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