Allakos Inc (NASDAQ:ALLK) Receives Consensus Recommendation of “Strong Buy” from Brokerages

Allakos Inc (NASDAQ:ALLK) has received an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 1-year consensus target price of $96.00 for the company and are expecting that the company will post ($0.47) earnings per share for the current quarter, according to Zacks. Zacks has also given Allakos an industry rank of 83 out of 256 based on the ratings given to its competitors.

Several analysts recently commented on ALLK shares. Zacks Investment Research upgraded shares of Allakos from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a research report on Thursday, August 8th. William Blair restated a “buy” rating on shares of Allakos in a research report on Friday.



In other news, Director John P. Mckearn sold 53,906 shares of Allakos stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $39.57, for a total value of $2,133,060.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Venture Fund (Ohi Rivervest II sold 93,735 shares of Allakos stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $39.83, for a total transaction of $3,733,465.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 186,373 shares of company stock worth $7,408,059. 52.11% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in ALLK. Bank of Montreal Can acquired a new stake in shares of Allakos in the second quarter valued at about $63,000. Great West Life Assurance Co. Can acquired a new stake in shares of Allakos in the fourth quarter valued at about $89,000. BNP Paribas Arbitrage SA grew its position in shares of Allakos by 4,853.8% in the first quarter. BNP Paribas Arbitrage SA now owns 3,220 shares of the company’s stock valued at $130,000 after purchasing an additional 3,155 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Allakos in the first quarter valued at about $142,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Allakos in the first quarter valued at about $153,000. Institutional investors and hedge funds own 52.76% of the company’s stock.

Shares of Allakos stock traded down $0.51 during trading on Tuesday, hitting $87.60. 521,769 shares of the company’s stock were exchanged, compared to its average volume of 473,366. The firm’s 50-day simple moving average is $45.15. Allakos has a 52-week low of $29.34 and a 52-week high of $92.84.

Allakos (NASDAQ:ALLK) last issued its earnings results on Monday, August 5th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.47) by $0.03. On average, analysts predict that Allakos will post -1.9 earnings per share for the current fiscal year.

Allakos Company Profile

Allakos Inc, a clinical stage biopharmaceutical company, focuses on developing therapeutic antibodies targeting allergic, inflammatory, and proliferative diseases. The company is developing AK002 for the treatment of eosinophilic gastritis and eosinophilic gastroenteritis, urticaria, indolent systemic mastocytosis, and severe allergic conjunctivitis.

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