Zacks: Analysts Set $53.00 Target Price for Allakos Inc (ALLK)

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Shares of Allakos Inc (NASDAQ:ALLK) have received an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 12-month consensus price target of $53.00 for the company and are anticipating that the company will post ($0.24) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Allakos an industry rank of 82 out of 255 based on the ratings given to related companies.

A number of equities analysts recently commented on the company. Jefferies Financial Group assumed coverage on Allakos in a research report on Monday, August 13th. They set a “buy” rating and a $53.00 price objective on the stock. William Blair assumed coverage on Allakos in a research report on Monday, August 13th. They set an “outperform” rating on the stock. Goldman Sachs Group initiated coverage on Allakos in a research report on Monday, August 13th. They set a “neutral” rating and a $31.00 price objective on the stock. Finally, Zacks Investment Research upgraded Allakos from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Monday, October 15th.

In other Allakos news, major shareholder Venture Fund (Ohi Rivervest II bought 111,111 shares of Allakos stock in a transaction on Monday, July 23rd. The shares were bought at an average price of $18.00 per share, for a total transaction of $1,999,998.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Janney bought 250,000 shares of Allakos stock in a transaction on Monday, July 23rd. The stock was acquired at an average price of $18.00 per share, for a total transaction of $4,500,000.00. The disclosure for this purchase can be found here.

A hedge fund recently bought a new stake in Allakos stock. Strs Ohio bought a new stake in Allakos Inc (NASDAQ:ALLK) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,400 shares of the company’s stock, valued at approximately $107,000.

Allakos stock traded up $0.65 during trading on Monday, reaching $43.11. 144,686 shares of the company were exchanged, compared to its average volume of 256,147. Allakos has a 52-week low of $26.00 and a 52-week high of $49.10.

Allakos (NASDAQ:ALLK) last announced its quarterly earnings data on Wednesday, August 29th. The company reported ($4.17) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.27) by ($3.90). On average, research analysts predict that Allakos will post -1.07 earnings per share for the current year.

About Allakos

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.

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