Allakos Inc. Forecasted to Earn Q1 2023 Earnings of ($0.54) Per Share (NASDAQ:ALLK)

Allakos Inc. (NASDAQ:ALLK – Get Rating) – William Blair boosted their Q1 2023 EPS estimates for shares of Allakos in a research note issued to investors on Tuesday, March 7th. William Blair analyst T. Lugo now forecasts that the company will earn ($0.54) per share for the quarter, up from their previous estimate of ($0.56). The consensus estimate for Allakos’ current full-year earnings is ($2.32) per share. William Blair also issued estimates for Allakos’ Q2 2023 earnings at ($0.56) EPS, Q3 2023 earnings at ($0.54) EPS, Q4 2023 earnings at ($0.50) EPS, FY2023 earnings at ($2.13) EPS and FY2024 earnings at ($1.77) EPS.

Allakos (NASDAQ:ALLK – Get Rating) last posted its earnings results on Monday, March 6th. The company reported ($0.50) EPS for the quarter, hitting the consensus estimate of ($0.50).

Other analysts also recently issued reports about the stock. Piper Sandler assumed coverage on shares of Allakos in a research report on Tuesday. They issued an “overweight” rating and a $22.00 target price for the company. Morgan Stanley boosted their target price on shares of Allakos from $6.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Friday, January 27th. Piper Jaffray Companies started coverage on shares of Allakos in a research report on Tuesday. They issued an “overweight” rating and a $22.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 price objective on shares of Allakos in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $14.75.

Allakos Stock Down 7.4 %

ALLK stock opened at $5.66 on Thursday. The company has a market capitalization of $484.95 million, a price-to-earnings ratio of -1.02 and a beta of 0.50. Allakos has a 12 month low of $2.54 and a 12 month high of $8.73. The firm has a 50 day moving average of $6.97 and a two-hundred day moving average of $6.52.

Hedge Funds Weigh In On Allakos

Large investors have recently bought and sold shares of the stock. Bayesian Capital Management LP acquired a new position in Allakos during the 3rd quarter valued at $97,000. Silverarc Capital Management LLC acquired a new position in Allakos during the 3rd quarter valued at $2,448,000. RTW Investments LP acquired a new position in Allakos during the 3rd quarter valued at $10,058,000. Cubist Systematic Strategies LLC raised its stake in Allakos by 146.7% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 262,098 shares of the company’s stock valued at $1,604,000 after purchasing an additional 155,853 shares during the last quarter. Finally, Caxton Associates LP raised its stake in Allakos by 75.2% during the 3rd quarter. Caxton Associates LP now owns 77,773 shares of the company’s stock valued at $476,000 after purchasing an additional 33,377 shares during the last quarter. 93.07% of the stock is currently owned by institutional investors and hedge funds.

Allakos Company Profile

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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.