Allogene Therapeutics (ALLO) Receives “Buy” Rating from Cowen

Cowen restated their buy rating on shares of Allogene Therapeutics (NASDAQ:ALLO) in a research report sent to investors on Friday, March 8th.

“Tuesday, Synlogic reported 4Q results and reviewed recent progress. Management reiterated plans to present topline results from ongoing Phase 1/2 trials of by mid-year, which could establish POC in patients with hyperammonemia and phenylketonuria (PKU), respectively. While these trials utilize bacterial slurry formulations, management indicated future trials would use pill-based formulations. While the transition may require clinical bridging studies, we view the new formulations as essential for commercial viability. If the SYNB1020 demonstrates a meaningful impact on serum ammonia, next steps could include a trial in urea cycle disorders (UCD), an indication with an established biomarker-based registrational endpoint. With $123M in cash, we believe Synlogic has adequate resources to sustain operations through 2020. $15 PT.”,” the firm’s analyst commented.

Separately, Zacks Investment Research raised shares of Allogene Therapeutics from a hold rating to a buy rating and set a $30.00 price target on the stock in a research report on Monday, January 7th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $34.20.

ALLO traded up $0.21 during midday trading on Friday, hitting $26.74. The company had a trading volume of 2,262,800 shares, compared to its average volume of 401,551. Allogene Therapeutics has a 52 week low of $21.67 and a 52 week high of $35.55. The company has a market cap of $3.22 billion and a P/E ratio of -4.06.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly earnings data on Friday, March 8th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.10). As a group, analysts forecast that Allogene Therapeutics will post -2.06 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. VV Manager LLC purchased a new position in Allogene Therapeutics in the 4th quarter worth approximately $206,853,000. FMR LLC purchased a new position in Allogene Therapeutics in the 4th quarter worth approximately $130,492,000. BlackRock Inc. purchased a new position in Allogene Therapeutics in the 4th quarter worth approximately $56,011,000. Perceptive Advisors LLC purchased a new position in Allogene Therapeutics in the 4th quarter worth approximately $41,574,000. Finally, venBio Select Advisor LLC purchased a new position in Allogene Therapeutics in the 4th quarter worth approximately $27,753,000. 44.94% of the stock is currently owned by institutional investors and hedge funds.

Allogene Therapeutics Company Profile

Allogene Therapeutics, Inc, a clinical stage immuno-oncology company, engages in the research, development, and commercialization of genetically engineered allogeneic T cell therapies for the treatment of cancer. The company is developing UCART19, a CAR T cell product candidate targeting CD19, which is in clinical trials in patients with R/R B-cell precursor acute lymphoblastic leukemia; ALLO-501, an allogeneic anti-CD19 CAR T cell product candidate for the treatment of patients with R/R non-Hodgkin lymphoma; ALLO-715, an allogeneic CAR T cell product candidate for the treatment of patients with R/R multiple myeloma; and ALLO-647, an anti-CD52 monoclonal antibody for use as a lymphodepleting agent.

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Analyst Recommendations for Allogene Therapeutics (NASDAQ:ALLO)

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