Allena Pharmaceuticals’ (NASDAQ:ALNA) quiet period is set to end on Tuesday, December 12th. Allena Pharmaceuticals had issued 5,333,333 shares in its public offering on November 2nd. The total size of the offering was $74,666,662 based on an initial share price of $14.00. During Allena Pharmaceuticals’ quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

A number of research analysts have weighed in on ALNA shares. Credit Suisse Group started coverage on Allena Pharmaceuticals in a research note on Monday, November 27th. They issued an “outperform” rating and a $22.00 price target for the company. Wedbush started coverage on Allena Pharmaceuticals in a research note on Monday, November 27th. They issued an “outperform” rating and a $30.00 price target for the company. Cowen started coverage on Allena Pharmaceuticals in a research note on Monday, November 27th. They issued an “outperform” rating for the company. Finally, Jefferies Group started coverage on Allena Pharmaceuticals in a research note on Monday, November 27th. They issued a “buy” rating and a $22.00 price target for the company.

Allena Pharmaceuticals (NASDAQ:ALNA) opened at $14.77 on Tuesday. Allena Pharmaceuticals has a one year low of $8.66 and a one year high of $15.00.

In other Allena Pharmaceuticals news, major shareholder Bessemer Venture Partners Vii acquired 36,000 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was bought at an average cost of $14.00 per share, with a total value of $504,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James N. Topper acquired 500,000 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was acquired at an average cost of $14.00 per share, with a total value of $7,000,000.00. The disclosure for this purchase can be found here.

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About Allena Pharmaceuticals

Allena Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on developing and commercializing non-systemic oral protein therapeutics to treat metabolic and orphan diseases, with a particular focus on nephrologic and urologic conditions. Its lead product candidate, ALLN-177, is in an ongoing Phase II clinical trial and is being developed for the chronic management of hyperoxaluria and kidney stones.

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