Leerink Partnrs Has Positive View of Allakos FY2024 Earnings

Allakos Inc. (NASDAQ:ALLK) – Equities research analysts at Leerink Partnrs boosted their FY2024 earnings per share estimates for shares of Allakos in a research note issued on Thursday, November 7th. Leerink Partnrs analyst T. Smith now anticipates that the company will earn ($1.19) per share for the year, up from their previous forecast of ($1.24). The consensus estimate for Allakos’ current full-year earnings is ($1.16) per share. Leerink Partnrs also issued estimates for Allakos’ Q4 2024 earnings at ($0.19) EPS, FY2025 earnings at ($0.63) EPS, FY2026 earnings at ($0.53) EPS, FY2027 earnings at ($0.52) EPS and FY2028 earnings at ($0.48) EPS.

Several other analysts also recently commented on ALLK. JMP Securities reiterated a “market outperform” rating and set a $3.00 target price on shares of Allakos in a research note on Thursday, September 26th. Jefferies Financial Group cut their target price on Allakos from $1.50 to $1.00 and set a “hold” rating on the stock in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $1.67.

Allakos Trading Up 11.1 %

Shares of ALLK opened at $1.50 on Monday. The business’s fifty day simple moving average is $0.83 and its two-hundred day simple moving average is $0.94. Allakos has a 12 month low of $0.54 and a 12 month high of $3.41. The company has a market cap of $134.01 million, a price-to-earnings ratio of -0.74 and a beta of 1.03.

Allakos (NASDAQ:ALLK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.01.

Hedge Funds Weigh In On Allakos

Several hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in Allakos by 1,041.1% in the 1st quarter. BNP Paribas Financial Markets now owns 205,663 shares of the company’s stock worth $259,000 after purchasing an additional 187,640 shares during the period. Vanguard Group Inc. raised its holdings in Allakos by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 3,794,729 shares of the company’s stock worth $4,781,000 after purchasing an additional 539,087 shares during the period. Acadian Asset Management LLC raised its holdings in Allakos by 1,753.1% in the 1st quarter. Acadian Asset Management LLC now owns 1,331,639 shares of the company’s stock worth $1,677,000 after purchasing an additional 1,259,778 shares during the period. Platinum Investment Management Ltd. raised its holdings in Allakos by 84.6% in the 1st quarter. Platinum Investment Management Ltd. now owns 1,172,061 shares of the company’s stock worth $1,477,000 after purchasing an additional 537,038 shares during the period. Finally, BVF Inc. IL raised its holdings in Allakos by 93.5% in the 1st quarter. BVF Inc. IL now owns 16,552,417 shares of the company’s stock worth $20,856,000 after purchasing an additional 8,000,000 shares during the period. 84.64% of the stock is owned by institutional investors.

About Allakos

Allakos Inc, a clinical stage biotechnology company, develops therapeutics that target immunomodulatory receptors present on immune effector cells in allergy, inflammatory, and proliferative diseases in the United States. The company’s lead product candidate is AK006, which in a Phase I clinical trial for the treatment of chronic spontaneous urticaria (CSU) and other indications.