Research Analysts Offer Predictions for Allakos Inc.’s Q1 2023 Earnings (NASDAQ:ALLK)

Allakos Inc. (NASDAQ:ALLK – Get Rating) – Analysts at Jefferies Financial Group issued their Q1 2023 earnings per share estimates for shares of Allakos in a research report issued to clients and investors on Monday, March 6th. Jefferies Financial Group analyst M. Raycroft expects that the company will earn ($0.53) per share for the quarter. The consensus estimate for Allakos’ current full-year earnings is ($2.32) per share. Jefferies Financial Group also issued estimates for Allakos’ Q3 2023 earnings at ($0.64) EPS, Q4 2023 earnings at ($0.49) EPS, FY2023 earnings at ($2.21) EPS, FY2024 earnings at ($1.88) EPS, FY2025 earnings at ($1.62) EPS and FY2026 earnings at ($1.63) EPS.

Allakos (NASDAQ:ALLK – Get Rating) last issued its earnings results on Monday, March 6th. The company reported ($0.50) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.50).

A number of other equities analysts have also weighed in on the company. Morgan Stanley upped their target price on Allakos from $6.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Friday, January 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 price target on shares of Allakos in a research report on Tuesday. Piper Jaffray Companies initiated coverage on Allakos in a research report on Tuesday. They issued an “overweight” rating and a $22.00 price target for the company. Finally, Piper Sandler initiated coverage on Allakos in a research report on Tuesday. They issued an “overweight” rating and a $22.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $14.75.

Allakos Stock Down 7.4 %

Shares of NASDAQ:ALLK opened at $5.66 on Thursday. Allakos has a twelve month low of $2.54 and a twelve month high of $8.73. The stock’s 50 day moving average is $6.97 and its 200-day moving average is $6.52. The firm has a market capitalization of $484.95 million, a price-to-earnings ratio of -1.02 and a beta of 0.50.

Institutional Investors Weigh In On Allakos

Institutional investors and hedge funds have recently bought and sold shares of the stock. Silverarc Capital Management LLC increased its position in shares of Allakos by 20.2% during the 4th quarter. Silverarc Capital Management LLC now owns 480,701 shares of the company’s stock valued at $4,048,000 after purchasing an additional 80,701 shares during the last quarter. State of Wisconsin Investment Board purchased a new stake in shares of Allakos during the 4th quarter valued at $537,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Allakos during the 4th quarter valued at $576,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Allakos during the 4th quarter valued at $87,000. Finally, Legal & General Group Plc purchased a new stake in shares of Allakos during the 4th quarter valued at $143,000. 93.07% of the stock is owned by hedge funds and other institutional investors.

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.