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

Allakos (NASDAQ:ALLK)‘s stock had its “market outperform” rating restated by analysts at JMP Securities in a research note issued on Thursday, Benzinga reports. They presently have a $3.00 price target on the stock. JMP Securities’ target price suggests a potential upside of 417.15% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Cantor Fitzgerald restated a “neutral” rating on shares of Allakos in a report on Thursday, June 20th. Jefferies Financial Group reduced their target price on Allakos from $1.50 to $1.00 and set a “hold” rating for the company in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $1.67.

Allakos Stock Up 1.1 %

NASDAQ ALLK traded up $0.01 on Thursday, reaching $0.58. 37,959 shares of the stock traded hands, compared to its average volume of 833,371. The firm’s fifty day simple moving average is $0.71 and its 200 day simple moving average is $1.00. Allakos has a 12 month low of $0.54 and a 12 month high of $3.41. The company has a market cap of $51.54 million, a price-to-earnings ratio of -0.23 and a beta of 1.16.

Allakos (NASDAQ:ALLK) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.02. As a group, equities research analysts forecast that Allakos will post -1.2 EPS for the current fiscal year.

Insider Transactions at Allakos

In other Allakos news, CFO Harlan Baird Radford sold 87,064 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $1.01, for a total value of $87,934.64. Following the transaction, the chief financial officer now directly owns 204,390 shares of the company’s stock, valued at approximately $206,433.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 16.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 DIFC Ltd acquired a new position in Allakos during the second quarter valued at approximately $25,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Allakos in the second quarter valued at about $55,000. Aristides Capital LLC bought a new position in shares of Allakos in the fourth quarter worth about $153,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Allakos in the second quarter worth about $112,000. Finally, Pennant Investors LP acquired a new position in shares of Allakos during the 4th quarter worth about $508,000. Institutional investors 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.