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

Allena Pharmaceuticals (NASDAQ:ALNA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, 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. “

ALNA has been the topic of several other research reports. HC Wainwright upped their target price on Allena Pharmaceuticals from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, August 11th. B. Riley decreased their price target on Allena Pharmaceuticals from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, August 18th.

Shares of NASDAQ:ALNA traded down $0.01 during trading on Thursday, reaching $0.88. 1,801 shares of the company traded hands, compared to its average volume of 1,880,010. The company has a quick ratio of 3.63, a current ratio of 3.63 and a debt-to-equity ratio of 0.81. Allena Pharmaceuticals has a 52 week low of $0.75 and a 52 week high of $2.78. The firm has a market capitalization of $70.60 million, a PE ratio of -0.97 and a beta of 2.17. The company’s 50 day moving average is $0.95 and its two-hundred day moving average is $1.09.

Allena Pharmaceuticals (NASDAQ:ALNA) last issued its earnings results on Monday, August 9th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). As a group, research analysts anticipate that Allena Pharmaceuticals will post -0.81 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. HRT Financial LP purchased a new stake in shares of Allena Pharmaceuticals in the 1st quarter worth $31,000. Level Four Financial LLC increased its position in shares of Allena Pharmaceuticals by 100.0% during the third quarter. Level Four Financial LLC now owns 40,000 shares of the company’s stock worth $36,000 after acquiring an additional 20,000 shares during the period. State Street Corp purchased a new position in Allena Pharmaceuticals during the second quarter valued at approximately $45,000. Bank of New York Mellon Corp acquired a new stake in Allena Pharmaceuticals in the first quarter valued at approximately $54,000. Finally, Citadel Advisors LLC acquired a new stake in Allena Pharmaceuticals in the second quarter valued at approximately $62,000. 26.98% of the stock is currently owned by institutional investors and hedge funds.

Allena Pharmaceuticals Company Profile

Allena Pharmaceuticals, Inc engages in the development, discovery and commercialization of oral enzyme therapeutics to treat patients with kidney disorders. Its product pipeline includes reloxaliase, an oral enzyme therapeutic for the treatment of enteric hyperoxaluria in adults and ALLN-346, which is used for patients with hyperuricemia and moderate to severe chronic kidney disease.

Further Reading: Initial Coin Offerings entail a high degree of risk

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