Stifel lowered the firm’s price target on ALX Oncology to $10 from $11 and keeps a Buy rating on the shares. Following the Q3 update, the firm updated its model to reflect the updated development timelines for evorpacept in gastric cancer and also increased its view of the odds of success to 70% from 50% while also accounting after an October 2023 capital raise in its valuation.
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