Allogene Therapeutics (NASDAQ:ALLO) Given “Buy” Rating at Oppenheimer

Oppenheimer reissued their buy rating on shares of Allogene Therapeutics (NASDAQ:ALLO) in a research note issued to investors on Tuesday morning, TipRanks reports. Oppenheimer currently has a $44.00 price target on the stock.

A number of other analysts have also commented on ALLO. ValuEngine lowered Allogene Therapeutics from a buy rating to a hold rating in a report on Wednesday, March 11th. Stifel Nicolaus assumed coverage on Allogene Therapeutics in a research report on Wednesday, March 4th. They issued a hold rating and a $27.00 target price for the company. Berenberg Bank assumed coverage on Allogene Therapeutics in a research report on Monday, February 24th. They issued a hold rating and a $27.00 target price for the company. Zacks Investment Research downgraded Allogene Therapeutics from a buy rating to a hold rating in a research report on Tuesday. Finally, JMP Securities assumed coverage on Allogene Therapeutics in a research report on Wednesday, December 18th. They issued an outperform rating and a $37.00 target price for the company. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $33.64.

Shares of ALLO stock traded down $0.13 during trading hours on Tuesday, reaching $19.81. The company had a trading volume of 661,200 shares, compared to its average volume of 667,876. Allogene Therapeutics has a 12 month low of $17.43 and a 12 month high of $33.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 16.46 and a quick ratio of 16.46. The business has a fifty day simple moving average of $23.84 and a 200-day simple moving average of $26.43. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -10.94 and a beta of 0.55.

Allogene Therapeutics (NASDAQ:ALLO) last posted its earnings results on Thursday, February 27th. The company reported ($0.58) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.68) by $0.10. On average, equities research analysts expect that Allogene Therapeutics will post -2.5 earnings per share for the current year.

In other news, insider Alison Moore sold 3,750 shares of Allogene Therapeutics stock in a transaction on Monday, March 16th. The stock was sold at an average price of $19.19, for a total value of $71,962.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Eric Thomas Schmidt sold 5,450 shares of Allogene Therapeutics stock in a transaction on Monday, March 16th. The shares were sold at an average price of $19.73, for a total value of $107,528.50. Following the completion of the transaction, the chief financial officer now owns 47,257 shares of the company’s stock, valued at $932,380.61. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,535 shares of company stock valued at $572,160. 36.50% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. First Trust Advisors LP boosted its stake in Allogene Therapeutics by 0.4% during the first quarter. First Trust Advisors LP now owns 101,816 shares of the company’s stock valued at $2,944,000 after buying an additional 375 shares during the period. Shikiar Asset Management Inc. lifted its stake in Allogene Therapeutics by 1.9% during the fourth quarter. Shikiar Asset Management Inc. now owns 35,645 shares of the company’s stock worth $926,000 after purchasing an additional 650 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Allogene Therapeutics by 10.1% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 9,355 shares of the company’s stock worth $243,000 after purchasing an additional 860 shares during the last quarter. California State Teachers Retirement System lifted its stake in Allogene Therapeutics by 1.5% during the third quarter. California State Teachers Retirement System now owns 60,602 shares of the company’s stock worth $1,652,000 after purchasing an additional 882 shares during the last quarter. Finally, Bourgeon Capital Management LLC bought a new stake in Allogene Therapeutics during the fourth quarter worth about $32,000. 57.34% of the stock is owned by institutional investors.

Allogene Therapeutics Company Profile

Allogene Therapeutics, Inc, a clinical stage immuno-oncology company, develops and commercializes genetically engineered allogeneic T cell therapies for the treatment of cancer. The company is developing UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate, which is in Phase I clinical trials for the treatment of pediatric and adult patients with R/R CD19 positive B-cell ALL; and ALLO-501, an allogeneic CAR T cell product candidate targeting CD19 to treat R/R non-Hodgkin lymphoma.

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Analyst Recommendations for Allogene Therapeutics (NASDAQ:ALLO)

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