Leerink Partnrs Increases Earnings Estimates for Allakos

Allakos Inc. (NASDAQ:ALLK) – Leerink Partnrs upped their FY2024 earnings estimates for Allakos in a note issued to investors on Thursday, November 7th. Leerink Partnrs analyst T. Smith now forecasts that the company will earn ($1.19) per share for the year, up from their prior estimate of ($1.24). The consensus estimate for Allakos’ current full-year earnings is ($1.20) 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.

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

Several other brokerages have also recently issued reports on ALLK. JMP Securities reiterated a “market outperform” rating and set a $3.00 target price on shares of Allakos in a report on Thursday, September 26th. Jefferies Financial Group dropped their target price on shares of Allakos from $1.50 to $1.00 and set a “hold” rating on the stock in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Allakos currently has an average rating of “Hold” and a consensus target price of $1.67.

Allakos Stock Performance

NASDAQ ALLK opened at $1.35 on Monday. The company’s 50-day moving average price is $0.81 and its 200-day moving average price is $0.93. The stock has a market cap of $120.61 million, a PE ratio of -0.67 and a beta of 1.03. Allakos has a 12 month low of $0.54 and a 12 month high of $3.41.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd purchased a new stake in shares of Allakos during the second quarter valued at about $25,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Allakos during the second quarter valued at about $55,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Allakos during the second quarter valued at about $112,000. BNP Paribas Financial Markets lifted its position in shares of Allakos by 1,041.1% during the first quarter. BNP Paribas Financial Markets now owns 205,663 shares of the company’s stock valued at $259,000 after buying an additional 187,640 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its position in shares of Allakos by 11.9% during the third quarter. GSA Capital Partners LLP now owns 794,896 shares of the company’s stock valued at $519,000 after buying an additional 84,750 shares during the last quarter. 84.64% of the stock is currently owned by institutional investors.

Allakos Company Profile

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.