Allogene Therapeutics, Inc. (NASDAQ:ALLO – Get Rating) – Investment analysts at Zacks Research lifted their FY2022 earnings estimates for shares of Allogene Therapeutics in a research note issued to investors on Wednesday, November 16th. Zacks Research analyst S. Ganoria now anticipates that the company will earn ($2.41) per share for the year, up from their prior forecast of ($2.48). The consensus estimate for Allogene Therapeutics’ current full-year earnings is ($2.38) per share. Zacks Research also issued estimates for Allogene Therapeutics’ Q4 2022 earnings at ($0.75) EPS, Q1 2023 earnings at ($0.75) EPS, Q2 2023 earnings at ($0.76) EPS, Q3 2023 earnings at ($0.78) EPS, Q4 2023 earnings at ($0.79) EPS, FY2023 earnings at ($3.08) EPS, Q1 2024 earnings at ($0.81) EPS, Q2 2024 earnings at ($0.79) EPS, Q3 2024 earnings at ($0.78) EPS and FY2024 earnings at ($2.96) EPS.
A number of other research firms also recently weighed in on ALLO. Oppenheimer cut their target price on Allogene Therapeutics to $32.00 in a research report on Thursday, October 13th. Truist Financial lowered their price target on Allogene Therapeutics to $29.00 in a report on Tuesday, August 23rd. JMP Securities reaffirmed a “buy” rating and issued a $23.00 target price on shares of Allogene Therapeutics in a report on Tuesday, September 27th. Raymond James cut Allogene Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 10th. Finally, B. Riley cut their target price on Allogene Therapeutics from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, September 22nd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Allogene Therapeutics has an average rating of “Moderate Buy” and an average price target of $27.10.
Allogene Therapeutics Price Performance
Allogene Therapeutics (NASDAQ:ALLO – Get Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($0.62) by $0.04. Allogene Therapeutics had a negative return on equity of 37.74% and a negative net margin of 126,580.16%. During the same quarter last year, the business posted ($0.57) EPS.
Hedge Funds Weigh In On Allogene Therapeutics
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CI Investments Inc. increased its stake in shares of Allogene Therapeutics by 80.5% in the 2nd quarter. CI Investments Inc. now owns 2,193 shares of the company’s stock worth $25,000 after purchasing an additional 978 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Allogene Therapeutics in the 3rd quarter valued at about $34,000. US Bancorp DE lifted its holdings in shares of Allogene Therapeutics by 41.9% in the 2nd quarter. US Bancorp DE now owns 5,474 shares of the company’s stock valued at $63,000 after acquiring an additional 1,616 shares during the last quarter. Great West Life Assurance Co. Can purchased a new stake in Allogene Therapeutics in the 3rd quarter worth about $67,000. Finally, Penserra Capital Management LLC purchased a new stake in Allogene Therapeutics in the 1st quarter worth about $66,000. 84.81% 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. It develops, manufactures, and commercializes UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate for the treatment of pediatric and adult patients with R/R CD19 positive B-cell ALL.
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