Wedbush Reiterates “Buy” Rating for Allena Pharmaceuticals (ALNA)

Wedbush reiterated their buy rating on shares of Allena Pharmaceuticals (NASDAQ:ALNA) in a research report report published on Monday, December 18th. Wedbush also issued estimates for Allena Pharmaceuticals’ Q4 2017 earnings at ($0.28) EPS, Q1 2018 earnings at ($0.37) EPS, Q2 2018 earnings at ($0.37) EPS, Q3 2018 earnings at ($0.37) EPS, Q4 2018 earnings at ($0.37) EPS, FY2018 earnings at ($1.48) EPS, FY2019 earnings at ($1.88) EPS, FY2020 earnings at ($2.09) EPS and FY2021 earnings at ($2.59) EPS.

“We reiterate our Underperform rating and $37 price target post 3Q:17 and after speaking with management. We continue to see minimal value from Eagle’s pipeline and expect the company to acquire an asset.”,” Wedbush’s analyst commented.

Several other analysts also recently issued reports on the company. Cowen assumed coverage on Allena Pharmaceuticals in a research report on Monday, November 27th. They issued an outperform rating on the stock. Jefferies Group initiated coverage on Allena Pharmaceuticals in a research report on Monday, November 27th. They set a buy rating and a $22.00 target price on the stock. Finally, Credit Suisse Group initiated coverage on Allena Pharmaceuticals in a research report on Monday, November 27th. They set an outperform rating and a $22.00 target price on the stock.

Shares of Allena Pharmaceuticals (NASDAQ:ALNA) traded up $0.04 during mid-day trading on Monday, reaching $10.18. The company had a trading volume of 55,276 shares, compared to its average volume of 54,898. The company has a debt-to-equity ratio of -0.09, a current ratio of 4.83 and a quick ratio of 4.83. The firm has a market capitalization of $209.60 and a price-to-earnings ratio of -9.88. Allena Pharmaceuticals has a 52-week low of $8.66 and a 52-week high of $15.40.

In other news, Director James N. Topper bought 500,000 shares of Allena Pharmaceuticals stock in a transaction on Monday, November 6th. The shares were bought at an average price of $14.00 per share, with a total value of $7,000,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bessemer Venture Partners Vii purchased 36,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was bought at an average cost of $14.00 per share, for a total transaction of $504,000.00. The disclosure for this purchase can be found here.

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Allena Pharmaceuticals Company Profile

Allena Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on developing and commercializing non-systemic oral protein therapeutics to treat metabolic and orphan diseases, with a particular focus on nephrologic and urologic conditions. Its lead product candidate, ALLN-177, is in an ongoing Phase II clinical trial and is being developed for the chronic management of hyperoxaluria and kidney stones.

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