H.C. Wainwright Sticks to Their Buy Rating for Aileron Therapeutics (ALRN)

In a report released today, Edward White from H.C. Wainwright reiterated a Buy rating on Aileron Therapeutics (ALRNResearch Report), with a price target of $6.00. The company’s shares closed last Monday at $0.54, close to its 52-week low of $0.40.

According to TipRanks.com, White is a 5-star analyst with an average return of 14.3% and a 49.0% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Karyopharm Therapeutics, and TRACON Pharmaceuticals.

Currently, the analyst consensus on Aileron Therapeutics is a Moderate Buy with an average price target of $6.00.

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Based on Aileron Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $7.17 million. In comparison, last year the company had a GAAP net loss of $7.43 million.

Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ALRN in relation to earlier this year.

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Aileron Therapeutics, Inc. is a clinical stage biopharmaceutical company, which engages in the development and commercialization of novel class of therapeutics for the treatment of cancer and other diseases. It focuses on its lead products candidate, ALRN-6924 which is a cell-permeating peptide that disrupts the interaction of p53 suppressors MDM2 and MDMX with tumor suppressor p53 to reactivate tumor suppression in non-mutant, or wild-type, p53 cancers. The company was founded by Gregory L. Verdine, Rosana Kapeller, Huw M. Nash, Joseph A. Yanchik III, and Loren David Walensky in June 2005 and is headquartered in Cambridge, MA.