Allakos (NASDAQ:ALLK) Given “Buy” Rating at William Blair

William Blair reaffirmed their buy rating on shares of Allakos (NASDAQ:ALLK) in a report issued on Friday, AnalystRatings.com reports.

“Wenzel has extensive experience conducting clinical trials in asthma patients, including as lead author in the Phase II trials of Dupixent (Wenzel et al., 2016) and co-author in the Phase III trials. For additional background on PRS-060 and FeNO biology , see our recent note, at ERS With Promising Clinical Profile.”,” the firm’s analyst wrote.

Separately, Zacks Investment Research raised shares of Allakos from a hold rating to a buy rating and set a $98.00 price target for the company in a research report on Thursday.

ALLK traded up $1.07 during trading on Friday, reaching $84.88. 444,282 shares of the company’s stock were exchanged, compared to its average volume of 1,224,193. Allakos has a 1 year low of $29.34 and a 1 year high of $92.84. The stock has a fifty day moving average of $41.78.

Allakos (NASDAQ:ALLK) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.03. As a group, equities research analysts anticipate that Allakos will post -1.9 EPS for the current fiscal year.

In other news, Director John P. Mckearn sold 38,732 shares of Allakos stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $39.80, for a total transaction of $1,541,533.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Venture Fund (Ohi Rivervest II sold 93,735 shares of Allakos stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $39.83, for a total transaction of $3,733,465.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 186,373 shares of company stock valued at $7,408,059. Insiders own 52.11% of the company’s stock.

Several large investors have recently bought and sold shares of ALLK. Bank of Montreal Can purchased a new position in shares of Allakos during the 2nd quarter valued at approximately $63,000. BNP Paribas Arbitrage SA increased its holdings in shares of Allakos by 4,853.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,220 shares of the company’s stock valued at $130,000 after purchasing an additional 3,155 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in Allakos in the 1st quarter valued at $142,000. SG Americas Securities LLC acquired a new stake in Allakos in the 1st quarter valued at $153,000. Finally, Metropolitan Life Insurance Co. NY grew its stake in Allakos by 203.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 2,961 shares of the company’s stock valued at $155,000 after acquiring an additional 1,984 shares during the period. 53.02% of the stock is owned by hedge funds and other institutional investors.

About Allakos

Allakos Inc, a clinical stage biopharmaceutical company, focuses on developing therapeutic antibodies targeting allergic, inflammatory, and proliferative diseases. The company is developing AK002 for the treatment of eosinophilic gastritis and eosinophilic gastroenteritis, urticaria, indolent systemic mastocytosis, and severe allergic conjunctivitis.

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