H.C. Wainwright lifts Allena Pharmaceuticals Inc. [ALNA] price estimate. Who else is bullish?


Allena Pharmaceuticals Inc. [NASDAQ: ALNA] closed the trading session at $0.11 on 07/29/22. The day’s price range saw the stock hit a low of $0.106, while the highest price level was $0.1152. The company report on July 19, 2022 that Allena Pharmaceuticals Announces Completion of Enrollment of Cohorts A and B of ALLN-346 Phase 2a Study 202 in Patients with Gout and Stages 2 and 3 Chronic Kidney Disease.

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Allena Pharmaceuticals, Inc. (NASDAQ: ALNA) (“Allena” or the “Company”), a biopharmaceutical company deploying its novel oral biologic platform to discover, develop and commercialize first-in-class, oral enzyme therapeutics for difficult-to treat metabolic diseases, today reported completion of enrollment of the first two cohorts of its ALLN-346 Phase 2a Study 202 in gout patients with stage 2 (cohort A) and stage 3 (cohort B) chronic kidney disease (CKD). ALLN-346, which has received Fast Track Designation from the U.S. Food and Drug Administration (FDA), is a first-in-class, non-absorbed, orally administered enzyme in development for the treatment of hyperuricemia and gout in the setting of advanced CKD, an indication with high unmet need. ALLN-346 is a bio-engineered enzyme specifically designed to degrade urate in the gastrointestinal tract without systemic absorption and thereby reduce systemic urate levels in patients with hyperuricemia, gout and CKD.

Study 202 is a two-week, outpatient study assessing safety and tolerability in hyperuricemic patients with gout and CKD. Patients are randomized (2:1) to receive either five capsules of ALLN-346 or a matching placebo three times daily, with enrollment of up to four planned cohorts, each consisting of up to 12 patients. Cohort A has enrolled seven patients with an estimated glomerular filtration rate (eGFR) of 60-89 mL/minute (considered to have Stage 2, or mild CKD), and Cohort B has enrolled twelve patients with an eGFR of 30-59 mL/minute (considered to have Stage 3, or moderate CKD). Of note, because Study 201, a one-week inpatient study conducted at a clinical pharmacology unit, has enrolled primarily hyperuricemic patients with Stage 2 CKD, targeted enrollment of Stage 2 CKD patients in Cohort A of Study 202 was reduced from twelve to seven. Topline safety and efficacy data from cohort A and cohort B of Study 202 are expected to be available later this quarter. Pending review of the Phase 2a data and the availability of sufficient financial resources, the Company expects to open two additional cohorts later this year, consisting of gout patients with Stage 4, or advanced CKD (Cohort C) and an allopurinol combination therapy cohort in gout patients with Stage 3 CKD (Cohort D).

The stocks have a year to date performance of -81.18 percent and weekly performance of -14.23 percent. The stock has been moved at -67.21 percent over the last six months. The stock has performed -56.27 percent around the most recent 30 days and changed -40.05 percent over the most recent 3-months.

If compared to the average trading volume of 30.39M shares, ALNA reached to a volume of 12633192 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Allena Pharmaceuticals Inc. [ALNA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ALNA shares is $4.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ALNA stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for Allena Pharmaceuticals Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 01, 2020. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Outperform. The new note on the price target was released on July 10, 2019, representing the official price target for Allena Pharmaceuticals Inc. stock. Previously, the target price had yet another raise to $20, while Robert W. Baird analysts kept a Outperform rating on ALNA stock.

The Average True Range (ATR) for Allena Pharmaceuticals Inc. is set at 0.03 The Price to Book ratio for the last quarter was 0.86, with the Price to Cash per share for the same quarter was set at 0.08.

ALNA stock trade performance evaluation

Allena Pharmaceuticals Inc. [ALNA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.23. With this latest performance, ALNA shares dropped by -56.27% in over the last four-week period, additionally sinking by -67.21% over the last 6 months – not to mention a drop of -88.35% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ALNA stock in for the last two-week period is set at 39.31, with the RSI for the last a single of trading hit 32.40, and the three-weeks RSI is set at 42.28 for Allena Pharmaceuticals Inc. [ALNA]. The present Moving Average for the last 50 days of trading for this stock 0.1413, while it was recorded at 0.1167 for the last single week of trading, and 0.4080 for the last 200 days.

Allena Pharmaceuticals Inc. [ALNA]: An insightful look at the core fundamentals

Return on Equity for this stock declined to -234.88, with Return on Assets sitting at -132.08.

Allena Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.00.

Allena Pharmaceuticals Inc. [ALNA]: Insider Ownership positions

There are presently around $1 million, or 7.60% of ALNA stock, in the hands of institutional investors. The top three institutional holders of ALNA stocks are: TRV GP II, LLC with ownership of 2,790,964, which is approximately 0% of the company’s market cap and around 1.15% of the total institutional ownership; VANGUARD GROUP INC, holding 2,581,193 shares of the stock with an approximate value of $0.29 million in ALNA stocks shares; and FRAZIER MANAGEMENT LLC, currently with $0.11 million in ALNA stock with ownership of nearly -38.276% of the company’s market capitalization.

Positions in Allena Pharmaceuticals Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 12 institutional holders increased their position in Allena Pharmaceuticals Inc. [NASDAQ:ALNA] by around 127,820 shares. Additionally, 15 investors decreased positions by around 8,987,671 shares, while 8 investors held positions by with 1,026,211 shares. The mentioned changes placed institutional holdings at 8,089,280 shares, according to the latest SEC report filing. ALNA stock had 4 new institutional investments in for a total of 29,795 shares, while 6 institutional investors sold positions of 5,330,485 shares during the same period.