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

Allakos Inc (NASDAQ:ALLK) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.

Brokers have set a 1 year consensus target price of $96.00 for the company and are expecting that the company will post ($0.50) EPS for the current quarter, according to Zacks. Zacks has also assigned Allakos an industry rank of 58 out of 255 based on the ratings given to related companies.

A number of analysts have recently commented on ALLK shares. William Blair reissued a “buy” rating on shares of Allakos in a research report on Friday, August 9th. ValuEngine cut Allakos from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research cut Allakos from a “buy” rating to a “hold” rating in a research report on Friday, August 16th.

Shares of ALLK traded down $3.45 during trading hours on Thursday, hitting $72.72. The company had a trading volume of 258,400 shares, compared to its average volume of 248,817. The stock’s 50 day moving average price is $73.05 and its 200 day moving average price is $59.64. Allakos has a 52-week low of $30.32 and a 52-week high of $92.84. The firm has a market cap of $3.71 billion, a P/E ratio of -33.05 and a beta of -1.38.

Allakos (NASDAQ:ALLK) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.04). On average, equities research analysts forecast that Allakos will post -1.88 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Allakos by 8.9% in the 2nd quarter. BlackRock Inc. now owns 1,867,040 shares of the company’s stock valued at $80,900,000 after acquiring an additional 152,634 shares in the last quarter. Vanguard Group Inc. lifted its position in Allakos by 5.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,735,254 shares of the company’s stock valued at $75,188,000 after acquiring an additional 88,745 shares in the last quarter. Northern Trust Corp lifted its position in Allakos by 2.3% in the 2nd quarter. Northern Trust Corp now owns 170,143 shares of the company’s stock valued at $7,372,000 after acquiring an additional 3,847 shares in the last quarter. Alps Advisors Inc. lifted its position in Allakos by 7.4% in the 3rd quarter. Alps Advisors Inc. now owns 96,553 shares of the company’s stock valued at $7,592,000 after acquiring an additional 6,693 shares in the last quarter. Finally, Nuveen Asset Management LLC bought a new position in Allakos in the 2nd quarter valued at approximately $3,110,000. 58.47% of the stock is currently owned by institutional investors and hedge funds.

About Allakos

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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