Allakos Inc. (NASDAQ:ALLK – Get Rating) – Equities research analysts at Cantor Fitzgerald dropped their FY2023 earnings estimates for Allakos in a report issued on Tuesday, March 7th. Cantor Fitzgerald analyst J. Kim now anticipates that the company will post earnings of ($2.24) per share for the year, down from their previous estimate of ($2.14). Cantor Fitzgerald has a “Overweight” rating and a $7.00 price objective on the stock. The consensus estimate for Allakos’ current full-year earnings is ($2.23) per share.
Other equities research analysts also recently issued reports about the stock. Piper Sandler started coverage on shares of Allakos in a research report on Tuesday. They set an “overweight” rating and a $22.00 target price for the company. Morgan Stanley boosted their target price on shares of Allakos from $6.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Friday, January 27th. Finally, Piper Jaffray Companies started coverage on shares of Allakos in a research report on Tuesday. They set an “overweight” rating and a $22.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Allakos has a consensus rating of “Hold” and an average target price of $14.75.
Allakos Price Performance
Allakos (NASDAQ:ALLK – Get Rating) last posted its quarterly earnings results on Monday, March 6th. The company reported ($0.50) earnings per share for the quarter, meeting the consensus estimate of ($0.50).
Institutional Investors Weigh In On Allakos
Institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. bought a new stake in Allakos in the 2nd quarter worth about $46,000. Shell Asset Management Co. bought a new stake in Allakos in the 4th quarter worth about $81,000. Parallel Advisors LLC grew its position in Allakos by 800.7% in the 4th quarter. Parallel Advisors LLC now owns 9,683 shares of the company’s stock worth $82,000 after purchasing an additional 8,608 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in Allakos in the 4th quarter worth about $87,000. Finally, Fox Run Management L.L.C. bought a new stake in Allakos in the 4th quarter worth about $96,000. 93.07% of the stock is owned by institutional investors.
Allakos Company Profile
Allakos, Inc engages in the development of therapeutic antibodies. Its primary product is AK002, a monoclonal antibody used for the treatment of various eosinophil and mast cell related diseases such as eosinophilic gastritis, urticaria, severe allergic conjunctivitis, and indolent systemic mastocytosis.
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