Allakos (NASDAQ:ALLK) Stock Rating Reaffirmed by JMP Securities

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

A number of other equities analysts have also recently issued reports on the company. Jefferies Financial Group lowered their target price on Allakos from $1.50 to $1.00 and set a hold rating for the company in a report on Thursday, July 18th. Cantor Fitzgerald reissued a neutral rating on shares of Allakos in a research report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $1.67.

Allakos Stock Performance

Shares of ALLK opened at $0.64 on Thursday. Allakos has a 52 week low of $0.54 and a 52 week high of $3.41. The firm has a market capitalization of $56.32 million, a price-to-earnings ratio of -0.26 and a beta of 1.16. The business’s fifty day moving average price is $0.70 and its two-hundred day moving average price is $0.99.

Allakos (NASDAQ:ALLK) last released its earnings results on Wednesday, August 7th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.02. As a group, research analysts forecast that Allakos will post -1.2 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BVF Inc. IL raised its holdings in Allakos by 93.5% in the 1st quarter. BVF Inc. IL now owns 16,552,417 shares of the company’s stock valued at $20,856,000 after buying an additional 8,000,000 shares during the last quarter. Opaleye Management Inc. bought a new position in Allakos in the 1st quarter valued at about $3,068,000. Acadian Asset Management LLC raised its stake in shares of Allakos by 1,753.1% in the first quarter. Acadian Asset Management LLC now owns 1,331,639 shares of the company’s stock worth $1,677,000 after purchasing an additional 1,259,778 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Allakos during the first quarter worth about $929,000. Finally, Ikarian Capital LLC raised its stake in shares of Allakos by 293.4% during the 1st quarter. Ikarian Capital LLC now owns 932,675 shares of the company’s stock worth $1,175,000 after purchasing an additional 695,619 shares during the period. 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.