Allakos (ALLK) Downgraded by Zacks Investment Research to “Hold”

Allakos (NASDAQ:ALLK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “Allakos Inc. is a clinical stage bio-technology company. It discovers and develops therapeutic antibodies for the treatment of allergic, inflammatory and proliferative diseases. Allakos Inc. is based in CA, United States. “

Several other equities analysts have also issued reports on the company. Jefferies Financial Group initiated coverage on Allakos in a report on Monday, August 13th. They issued a “buy” rating and a $53.00 target price for the company. Goldman Sachs Group initiated coverage on Allakos in a report on Monday, August 13th. They issued a “neutral” rating and a $31.00 target price for the company. Finally, William Blair initiated coverage on Allakos in a report on Monday, August 13th. They issued an “outperform” rating for the company.

Shares of ALLK stock traded up $1.60 during trading on Tuesday, hitting $54.84. The company’s stock had a trading volume of 3,517 shares, compared to its average volume of 153,921. Allakos has a 52 week low of $26.00 and a 52 week high of $53.80.

Allakos (NASDAQ:ALLK) last released its earnings results on Wednesday, August 29th. The company reported ($4.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($3.90). Analysts anticipate that Allakos will post -1.07 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Strs Ohio bought a new position in shares of Allakos in the third quarter valued at approximately $107,000. Penserra Capital Management LLC purchased a new position in Allakos in the third quarter valued at approximately $509,000. Wells Fargo & Company MN purchased a new position in Allakos in the third quarter valued at approximately $623,000. Victory Capital Management Inc. purchased a new position in Allakos in the third quarter valued at approximately $1,360,000. Finally, Gilder Gagnon Howe & Co. LLC purchased a new position in Allakos in the third quarter valued at approximately $1,545,000. 0.10% of the stock is owned by institutional investors.

Allakos Company Profile

Allakos Inc, a clinical stage biopharmaceutical company, focuses on developing therapeutic antibodies targeting allergic, inflammatory, and proliferative diseases. The company is developing AK002 for the treatment of eosinophilic gastritis and eosinophilic gastroenteritis, urticaria, indolent systemic mastocytosis, and severe allergic conjunctivitis.

See Also: Inflation

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