Zacks: Brokerages Set $62.00 Target Price for Allakos Inc (ALLK)

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Allakos Inc (NASDAQ:ALLK) has been given a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokerages have set a twelve-month consensus price target of $62.00 for the company and are predicting that the company will post ($0.34) EPS for the current quarter, according to Zacks. Zacks has also given Allakos an industry rank of 58 out of 256 based on the ratings given to related companies.

Separately, Zacks Investment Research raised Allakos from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Monday, October 15th.

A number of hedge funds and other institutional investors have recently made changes to their positions in ALLK. Legal & General Group Plc bought a new position in shares of Allakos in the 3rd quarter valued at $56,000. Strs Ohio bought a new position in shares of Allakos in the 3rd quarter valued at $107,000. American International Group Inc. bought a new position in shares of Allakos in the 3rd quarter valued at $247,000. Rhumbline Advisers bought a new position in shares of Allakos in the 3rd quarter valued at $285,000. Finally, Blair William & Co. IL bought a new position in shares of Allakos in the 3rd quarter valued at $346,000. 37.78% of the stock is owned by hedge funds and other institutional investors.

NASDAQ ALLK traded down $1.05 during midday trading on Friday, hitting $43.95. The company had a trading volume of 227 shares, compared to its average volume of 472,850. Allakos has a twelve month low of $26.00 and a twelve month high of $65.48.

Allakos (NASDAQ:ALLK) last announced its quarterly earnings data on Thursday, November 8th. The company reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.10). As a group, equities research analysts forecast that Allakos will post -1.22 EPS for the current fiscal year.

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.

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