ALX Oncology Holdings Inc. shares ALXO climbed 9% premarket on Friday after Jefferies analysts upgraded the stock to buy, from hold. The stock is “very cheap,” the analysts wrote, given that the company is set to have results from three promising phase 2 trials in 2024. The company is studying an investigational therapy in combination with Merck & Co. Inc.’s MRK Keytruda for treatment of advanced head and neck squamous cell cancer. ALX shares surged more than 80% in October when the company released data from a phase 2 trial of a combination therapy for gastric cancer, and more data from that trial is…
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