Allakos (NASDAQ:ALLK) Given Market Outperform Rating at JMP Securities

Allakos (NASDAQ:ALLK)‘s stock had its “market outperform” rating reaffirmed by stock analysts at JMP Securities in a report issued on Wednesday, Benzinga reports. They currently have a $3.00 target price on the stock. JMP Securities’ target price would indicate a potential upside of 183.02% from the stock’s current price.

Separately, Cantor Fitzgerald restated a “neutral” rating on shares of Allakos in a research report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $1.83.

Allakos Stock Performance

Shares of NASDAQ ALLK traded down $0.12 during trading on Wednesday, reaching $1.06. The stock had a trading volume of 374,951 shares, compared to its average volume of 991,681. Allakos has a one year low of $0.98 and a one year high of $5.64. The stock has a market cap of $93.85 million, a PE ratio of -0.43 and a beta of 0.93. The firm’s 50 day moving average price is $1.20 and its two-hundred day moving average price is $1.55.

Allakos (NASDAQ:ALLK) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.09). On average, research analysts expect that Allakos will post -1.24 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Aristides Capital LLC acquired a new position in Allakos during the 4th quarter worth $153,000. BNP Paribas Financial Markets lifted its holdings in shares of Allakos by 1,041.1% in the first quarter. BNP Paribas Financial Markets now owns 205,663 shares of the company’s stock valued at $259,000 after buying an additional 187,640 shares during the period. Pennant Investors LP acquired a new stake in shares of Allakos in the fourth quarter valued at $508,000. GSA Capital Partners LLP acquired a new stake in shares of Allakos in the first quarter valued at $929,000. Finally, Ikarian Capital LLC lifted its holdings in shares of Allakos by 293.4% in the first quarter. Ikarian Capital LLC now owns 932,675 shares of the company’s stock valued at $1,175,000 after buying an additional 695,619 shares during the period. Institutional investors and hedge funds 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.