Allakos Inc. (NASDAQ:ALLK – Free Report) – Analysts at William Blair lowered their FY2023 EPS estimates for shares of Allakos in a report released on Tuesday, November 14th. William Blair analyst T. Lugo now expects that the company will earn ($1.93) per share for the year, down from their previous estimate of ($1.81). The consensus estimate for Allakos’ current full-year earnings is ($1.81) per share. William Blair also issued estimates for Allakos’ Q4 2023 earnings at ($0.51) EPS, Q1 2024 earnings at ($0.44) EPS, Q2 2024 earnings at ($0.43) EPS, Q3 2024 earnings at ($0.46) EPS, Q4 2024 earnings at ($0.52) EPS and FY2024 earnings at ($1.85) EPS.
A number of other equities analysts have also recently commented on ALLK. JMP Securities dropped their target price on Allakos from $11.00 to $10.00 and set a “market outperform” rating for the company in a report on Tuesday. Barclays dropped their price objective on shares of Allakos from $2.50 to $1.50 and set an “underweight” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, Allakos presently has an average rating of “Moderate Buy” and a consensus price target of $11.36.
Allakos Price Performance
Shares of NASDAQ ALLK opened at $1.97 on Thursday. Allakos has a 1-year low of $1.48 and a 1-year high of $8.73. The business’s 50 day moving average is $2.13 and its two-hundred day moving average is $3.61. The stock has a market capitalization of $171.23 million, a P/E ratio of -1.03 and a beta of 0.64.
Institutional Trading of Allakos
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in shares of Allakos by 134.4% in the second quarter. BlackRock Inc. now owns 5,979,811 shares of the company’s stock worth $26,072,000 after purchasing an additional 3,428,359 shares during the last quarter. BVF Inc. IL boosted its holdings in shares of Allakos by 42.8% in the second quarter. BVF Inc. IL now owns 8,652,417 shares of the company’s stock valued at $37,725,000 after purchasing an additional 2,592,170 shares during the period. Blackstone Inc. grew its stake in Allakos by 104.2% in the third quarter. Blackstone Inc. now owns 4,096,652 shares of the company’s stock worth $9,299,000 after purchasing an additional 2,090,594 shares in the last quarter. Redmile Group LLC increased its holdings in Allakos by 81.1% during the 3rd quarter. Redmile Group LLC now owns 4,135,061 shares of the company’s stock worth $9,387,000 after purchasing an additional 1,851,467 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Allakos by 85.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,112,494 shares of the company’s stock worth $19,049,000 after purchasing an additional 1,434,364 shares during the period. Hedge funds and other institutional investors own 84.64% of the company’s stock.
Allakos Inc, a clinical stage biopharmaceutical company, develops therapeutics that target immunomodulatory receptors present on immune effector cells in allergy, inflammatory, and proliferative diseases. The company's lead monoclonal antibody is lirentelimab (AK002), which is in a Phase III study for the treatment of eosinophilic gastritis and/or eosinophilic duodenitis; a Phase II/III study for eosinophilic esophagitis; and a Phase II clinical study to atopic dermatitis and chronic spontaneous urticaria.
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