Allakos (ALLK) Stock Rating Lowered by Zacks Investment Research

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Zacks Investment Research cut shares of Allakos (NASDAQ:ALLK) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

According to Zacks, “Allakos Inc. is a clinical stage bio-technology company. It discovers and develops therapeutic antibodies for the treatment of allergic, inflammatory and proliferative diseases. Allakos Inc. is based in CA, United States. “

Other equities analysts have also issued reports about the company. Goldman Sachs Group assumed coverage on Allakos in a research report on Monday, August 13th. They issued a neutral rating and a $31.00 target price on the stock. Jefferies Financial Group initiated coverage on Allakos in a report on Monday, August 13th. They set a buy rating and a $53.00 target price for the company. Finally, William Blair initiated coverage on Allakos in a report on Monday, August 13th. They set an outperform rating for the company.

Shares of ALLK traded down $4.16 during trading on Tuesday, reaching $53.17. The company’s stock had a trading volume of 225,865 shares, compared to its average volume of 133,438. Allakos has a twelve month low of $26.00 and a twelve month high of $58.52.

Allakos (NASDAQ:ALLK) last announced its earnings results on Thursday, November 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.10). Sell-side analysts expect that Allakos will post -1.07 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in ALLK. FMR LLC purchased a new stake in shares of Allakos during the third quarter valued at $92,063,000. BlackRock Inc. purchased a new stake in shares of Allakos during the third quarter valued at $30,938,000. Jennison Associates LLC purchased a new stake in shares of Allakos during the third quarter valued at $15,378,000. Alliancebernstein L.P. purchased a new stake in shares of Allakos during the third quarter valued at $14,473,000. Finally, Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Allakos during the third quarter valued at $1,545,000. 0.10% of the stock is owned by institutional investors and hedge funds.

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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