JMP Securities Reaffirms “Market Outperform” Rating for Allakos (NASDAQ:ALLK)

JMP Securities reiterated their market outperform rating on shares of Allakos (NASDAQ:ALLK) in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a $3.00 target price on the stock.

Separately, Cantor Fitzgerald reaffirmed a neutral rating on shares of Allakos in a report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $1.83.

Allakos Stock Performance

Shares of Allakos stock opened at $1.00 on Wednesday. Allakos has a one year low of $0.93 and a one year high of $5.64. The stock’s fifty day moving average is $1.20 and its 200 day moving average is $1.53. The stock has a market cap of $88.54 million, a P/E ratio of -0.41 and a beta of 0.93.

Allakos (NASDAQ:ALLK) last announced its earnings results on Thursday, May 9th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.09). Analysts predict that Allakos will post -1.24 EPS for the current year.

Institutional Investors Weigh In On Allakos

A number of institutional investors have recently bought and sold shares of the business. Aristides Capital LLC purchased a new stake in Allakos in the 4th quarter worth $153,000. Pennant Investors LP purchased a new stake in Allakos in the 4th quarter worth $508,000. BNP Paribas Financial Markets grew 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 purchasing an additional 187,640 shares in the last quarter. Sectoral Asset Management Inc. grew its position in shares of Allakos by 77.3% during the third quarter. Sectoral Asset Management Inc. now owns 770,132 shares of the company’s stock valued at $1,748,000 after purchasing an additional 335,822 shares in the last quarter. Finally, Platinum Investment Management Ltd. grew its position in shares of Allakos by 84.6% during the first quarter. Platinum Investment Management Ltd. now owns 1,172,061 shares of the company’s stock valued at $1,477,000 after purchasing an additional 537,038 shares in the last quarter. Hedge funds and other institutional investors own 84.64% of the company’s stock.

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.