Allena Pharmaceuticals (NASDAQ:ALNA) Trading Up 8.8% After Analyst Upgrade

Allena Pharmaceuticals Inc (NASDAQ:ALNA)’s stock price shot up 8.8% during trading on Thursday after B. Riley raised their price target on the stock from $4.00 to $5.00. B. Riley currently has a buy rating on the stock. Allena Pharmaceuticals traded as high as $1.75 and last traded at $1.61. 3,493,541 shares were traded during mid-day trading, an increase of 269% from the average session volume of 946,633 shares. The stock had previously closed at $1.48.

ALNA has been the topic of several other reports. Wedbush reiterated a “buy” rating and issued a $18.00 price target on shares of Allena Pharmaceuticals in a research note on Thursday, September 10th. Roth Capital reissued a “market perform” rating and issued a $11.00 price target on shares of Allena Pharmaceuticals in a research report on Wednesday, July 15th. HC Wainwright restated a “buy” rating on shares of Allena Pharmaceuticals in a research note on Thursday, September 10th. Finally, LADENBURG THALM/SH SH reiterated a “buy” rating and set a $8.00 target price on shares of Allena Pharmaceuticals in a research report on Wednesday, July 15th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Allena Pharmaceuticals has a consensus rating of “Buy” and an average target price of $8.32.

A number of institutional investors and hedge funds have recently bought and sold shares of ALNA. Worth Venture Partners LLC lifted its stake in shares of Allena Pharmaceuticals by 148.1% in the second quarter. Worth Venture Partners LLC now owns 255,000 shares of the company’s stock valued at $403,000 after purchasing an additional 152,206 shares during the period. Sabby Management LLC purchased a new position in Allena Pharmaceuticals in the second quarter valued at about $2,420,000. Advisor Group Holdings Inc. lifted its position in shares of Allena Pharmaceuticals by 81.8% during the 2nd quarter. Advisor Group Holdings Inc. now owns 20,000 shares of the company’s stock valued at $32,000 after acquiring an additional 9,000 shares during the period. Goldman Sachs Group Inc. acquired a new stake in shares of Allena Pharmaceuticals during the 2nd quarter valued at approximately $44,000. Finally, Wedbush Securities Inc. boosted its stake in shares of Allena Pharmaceuticals by 103.5% during the 2nd quarter. Wedbush Securities Inc. now owns 49,150 shares of the company’s stock worth $78,000 after acquiring an additional 25,000 shares in the last quarter. 35.14% of the stock is owned by hedge funds and other institutional investors.

The firm has a 50 day moving average of $1.31 and a two-hundred day moving average of $1.47. The stock has a market capitalization of $61.37 million, a PE ratio of -0.92 and a beta of 2.68. The company has a current ratio of 4.21, a quick ratio of 4.21 and a debt-to-equity ratio of 0.22.

Allena Pharmaceuticals (NASDAQ:ALNA) last posted its earnings results on Wednesday, August 5th. The company reported ($0.26) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.01. Equities research analysts forecast that Allena Pharmaceuticals Inc will post -0.92 EPS for the current year.

Allena Pharmaceuticals Company Profile (NASDAQ:ALNA)

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

Recommended Story: How do CD ladders protect against rising interest rates?

Receive News & Ratings for Allena Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allena Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.