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

JMP Securities reissued their market outperform rating on shares of Allakos (NASDAQ:ALLK) in a research report released on Thursday, Benzinga reports. They currently have a $3.00 target price on the stock.

Other equities analysts also recently issued reports about the company. Jefferies Financial Group lowered their price objective on Allakos from $1.50 to $1.00 and set a hold rating for the company in a research 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 assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Allakos has a consensus rating of Hold and a consensus price target of $1.67.

Allakos Price Performance

Shares of NASDAQ:ALLK opened at $0.64 on Thursday. The firm has a market capitalization of $56.32 million, a PE ratio of -0.26 and a beta of 1.16. The firm’s 50-day moving average is $0.70 and its two-hundred day moving average is $0.99. Allakos has a 1 year low of $0.54 and a 1 year high of $3.41.

Allakos (NASDAQ:ALLK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.02. Analysts expect that Allakos will post -1.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Allakos

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BVF Inc. IL boosted its holdings in Allakos by 93.5% in the first quarter. BVF Inc. IL now owns 16,552,417 shares of the company’s stock valued at $20,856,000 after purchasing an additional 8,000,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Allakos by 16.6% in the first quarter. Vanguard Group Inc. now owns 3,794,729 shares of the company’s stock valued at $4,781,000 after purchasing an additional 539,087 shares in the last quarter. Opaleye Management Inc. acquired a new position in Allakos in the first quarter valued at approximately $3,068,000. Acadian Asset Management LLC boosted its holdings in Allakos by 32.4% in the second quarter. Acadian Asset Management LLC now owns 1,762,814 shares of the company’s stock valued at $1,761,000 after purchasing an additional 431,175 shares in the last quarter. Finally, Platinum Investment Management Ltd. boosted its holdings in Allakos by 84.6% in 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. 84.64% of the stock is owned by institutional investors and hedge funds.

About Allakos

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.