Zacks: Analysts Set $96.00 Price Target for Allakos Inc (NASDAQ:ALLK)

Allakos Inc (NASDAQ:ALLK) has received an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Analysts have set a twelve-month consensus price target of $96.00 for the company and are expecting that the company will post ($0.50) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Allakos an industry rank of 57 out of 255 based on the ratings given to related companies.

Several equities analysts recently issued reports on the company. William Blair reissued a “buy” rating on shares of Allakos in a research report on Friday, August 9th. Zacks Investment Research cut Allakos from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Finally, ValuEngine cut Allakos from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd.

Several hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC acquired a new position in Allakos during the 3rd quarter worth approximately $42,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Allakos during the 3rd quarter worth approximately $113,000. Bank of Montreal Can acquired a new position in shares of Allakos during the second quarter worth $63,000. Amundi Pioneer Asset Management Inc. acquired a new position in Allakos in the 1st quarter worth $142,000. Finally, SG Americas Securities LLC grew its position in shares of Allakos by 27.5% during the second quarter. SG Americas Securities LLC now owns 4,819 shares of the company’s stock worth $209,000 after buying an additional 1,040 shares in the last quarter. Institutional investors own 68.68% of the company’s stock.

Allakos stock opened at $95.98 on Friday. The stock has a market cap of $4.62 billion, a PE ratio of -43.63 and a beta of -1.13. The stock has a fifty day moving average of $77.30 and a 200 day moving average of $63.68. Allakos has a one year low of $30.32 and a one year high of $98.37.

Allakos (NASDAQ:ALLK) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.04). Equities research analysts anticipate that Allakos will post -1.88 EPS for the current fiscal year.

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.

Further Reading: Neutral Rating

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