Allakos Inc. (NASDAQ:ALLK) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Allakos Inc. (NASDAQ:ALLK – Get Rating) have been given an average rating of “Moderate Buy” by the six ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $13.60.

Several brokerages have commented on ALLK. Jefferies Financial Group upgraded shares of Allakos from a “hold” rating to a “buy” rating and lifted their price objective for the company from $6.00 to $9.00 in a research note on Thursday, May 11th. Piper Jaffray Companies began coverage on shares of Allakos in a report on Tuesday, March 7th. They set an “overweight” rating and a $22.00 target price for the company. Morgan Stanley lifted their target price on shares of Allakos from $6.00 to $8.00 and gave the company an “equal weight” rating in a report on Friday, January 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 target price on shares of Allakos in a report on Tuesday, March 7th. Finally, Piper Sandler started coverage on shares of Allakos in a report on Tuesday, March 7th. They issued an “overweight” rating and a $22.00 price target for the company.

Allakos Stock Up 1.9 %

ALLK stock opened at $4.90 on Friday. The firm has a 50 day moving average of $4.50 and a 200 day moving average of $6.20. The stock has a market capitalization of $424.14 million, a PE ratio of -2.02 and a beta of 0.45. Allakos has a 52 week low of $2.54 and a 52 week high of $8.73.

Allakos (NASDAQ:ALLK – Get Rating) last released its earnings results on Tuesday, May 9th. The company reported ($0.49) EPS for the quarter, hitting analysts’ consensus estimates of ($0.49). On average, equities research analysts expect that Allakos will post -1.99 earnings per share for the current year.

Institutional Investors Weigh In On Allakos

Large investors have recently modified their holdings of the business. Sei Investments Co. purchased a new stake in shares of Allakos during the second quarter worth $46,000. Boulder Hill Capital Management LP purchased a new stake in shares of Allakos during the first quarter worth $52,000. Delphia USA Inc. purchased a new stake in shares of Allakos during the first quarter worth $52,000. Russell Investments Group Ltd. purchased a new stake in shares of Allakos during the first quarter worth $58,000. Finally, Boothbay Fund Management LLC boosted its position in shares of Allakos by 19.6% during the 1st quarter. Boothbay Fund Management LLC now owns 13,774 shares of the company’s stock valued at $61,000 after acquiring an additional 2,259 shares during the last quarter. Hedge funds and other institutional investors own 93.07% of the company’s stock.

About Allakos

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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.