Allakos Inc. (NASDAQ:ALLK – Get Rating) – Stock analysts at William Blair upped their Q2 2023 earnings estimates for shares of Allakos in a note issued to investors on Wednesday, May 10th. William Blair analyst T. Lugo now anticipates that the company will post earnings of ($0.51) per share for the quarter, up from their prior forecast of ($0.56). The consensus estimate for Allakos’ current full-year earnings is ($2.03) per share. William Blair also issued estimates for Allakos’ Q3 2023 earnings at ($0.52) EPS, Q4 2023 earnings at ($0.49) EPS, FY2023 earnings at ($2.01) EPS, Q1 2024 earnings at ($0.42) EPS, Q2 2024 earnings at ($0.41) EPS, Q3 2024 earnings at ($0.45) EPS, Q4 2024 earnings at ($0.50) EPS and FY2024 earnings at ($1.78) EPS.
Several other equities research analysts have also weighed in on ALLK. Jefferies Financial Group raised shares of Allakos from a “hold” rating to a “buy” rating and upped their target price for the stock from $6.00 to $9.00 in a report on Thursday. Piper Jaffray Companies began coverage on shares of Allakos in a research report on Tuesday, March 7th. They issued an “overweight” rating and a $22.00 price target on the stock. Piper Sandler began coverage on shares of Allakos in a research note on Tuesday, March 7th. They issued an “overweight” rating and a $22.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 price target on shares of Allakos in a research note on Tuesday, March 7th. Finally, Morgan Stanley lifted their price target on shares of Allakos from $6.00 to $8.00 and gave the company an “equal weight” rating in a research note on Friday, January 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $13.60.
Allakos Price Performance
Allakos (NASDAQ:ALLK – Get Rating) last announced its quarterly earnings data on Tuesday, May 9th. The company reported ($0.49) EPS for the quarter, meeting analysts’ consensus estimates of ($0.49).
Hedge Funds Weigh In On Allakos
Several institutional investors and hedge funds have recently modified their holdings of the stock. Logos Global Management LP bought a new stake in shares of Allakos in the third quarter valued at about $36,332,000. BVF Inc. IL bought a new stake in Allakos during the third quarter worth about $30,642,000. Vivo Capital LLC bought a new stake in Allakos during the third quarter worth about $25,215,000. NEA Management Company LLC lifted its position in Allakos by 184.0% during the third quarter. NEA Management Company LLC now owns 6,148,704 shares of the company’s stock worth $33,867,000 after purchasing an additional 3,984,000 shares during the period. Finally, TCG Crossover Management LLC bought a new stake in Allakos during the third quarter worth about $10,058,000. 93.07% of the stock is currently owned by institutional investors and hedge funds.
Allakos Company Profile
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.
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