Allakos (NASDAQ:ALLK) Rating Reiterated by JMP Securities

Allakos (NASDAQ:ALLK)‘s stock had its “market outperform” rating restated by JMP Securities in a research note issued to investors on Thursday, Benzinga reports. They currently have a $3.00 price objective on the stock. JMP Securities’ price target points to a potential upside of 371.62% from the company’s current price.

Other research analysts have also issued research reports about the stock. Cantor Fitzgerald reiterated a “neutral” rating on shares of Allakos in a research note on Thursday, June 20th. Jefferies Financial Group reduced their price objective on shares of Allakos from $1.50 to $1.00 and set a “hold” rating for the company in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $1.67.

Allakos Price Performance

Allakos stock opened at $0.64 on Thursday. The firm has a 50-day moving average of $0.70 and a two-hundred day moving average of $0.99. Allakos has a 1 year low of $0.54 and a 1 year high of $3.41. The stock has a market cap of $56.32 million, a price-to-earnings ratio of -0.26 and a beta of 1.16.

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

Institutional Trading of Allakos

Several large investors have recently made changes to their positions in the business. BVF Inc. IL boosted its holdings in shares of 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 acquiring an additional 8,000,000 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Allakos by 16.6% during the first quarter. Vanguard Group Inc. now owns 3,794,729 shares of the company’s stock worth $4,781,000 after buying an additional 539,087 shares in the last quarter. Opaleye Management Inc. purchased a new stake in Allakos during the first quarter worth $3,068,000. Acadian Asset Management LLC boosted its holdings in Allakos by 32.4% during the second quarter. Acadian Asset Management LLC now owns 1,762,814 shares of the company’s stock worth $1,761,000 after buying an additional 431,175 shares in the last quarter. Finally, Platinum Investment Management Ltd. boosted its holdings in Allakos by 84.6% during the first quarter. Platinum Investment Management Ltd. now owns 1,172,061 shares of the company’s stock worth $1,477,000 after buying an additional 537,038 shares in the last quarter. 84.64% of the stock is owned by hedge funds and other institutional investors.

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.