Allakos (NASDAQ:ALLK) Stock Rating Lowered by Zacks Investment Research

Allakos (NASDAQ:ALLK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, Zacks.com reports.

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. “

A number of other research firms have also recently weighed in on ALLK. Morgan Stanley began coverage on Allakos in a report on Thursday, August 26th. They set an “equal weight” rating and a $88.00 price target for the company. Cowen started coverage on Allakos in a report on Thursday, July 15th. They set an “outperform” rating and a $76.53 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Allakos has a consensus rating of “Buy” and an average target price of $141.42.

NASDAQ ALLK opened at $105.36 on Tuesday. The stock has a market cap of $5.69 billion, a PE ratio of -27.51 and a beta of 0.79. Allakos has a twelve month low of $75.41 and a twelve month high of $157.98. The stock has a fifty day simple moving average of $95.67 and a 200-day simple moving average of $95.61.

Allakos (NASDAQ:ALLK) last released its quarterly earnings results on Sunday, August 8th. The company reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.01). Analysts expect that Allakos will post -4.45 EPS for the current fiscal year.

In related news, Director Steven P. James sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, September 28th. The stock was sold at an average price of $108.12, for a total transaction of $432,480.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 34.45% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Allakos by 3.1% in the 2nd quarter. BlackRock Inc. now owns 3,525,854 shares of the company’s stock valued at $301,001,000 after buying an additional 105,503 shares during the period. Vanguard Group Inc. boosted its stake in shares of Allakos by 4.0% in the 2nd quarter. Vanguard Group Inc. now owns 3,417,445 shares of the company’s stock valued at $291,747,000 after buying an additional 130,995 shares during the period. State Street Corp boosted its stake in shares of Allakos by 25.2% in the 2nd quarter. State Street Corp now owns 1,117,871 shares of the company’s stock valued at $95,433,000 after buying an additional 225,146 shares during the period. Geode Capital Management LLC boosted its stake in shares of Allakos by 16.5% in the 2nd quarter. Geode Capital Management LLC now owns 587,978 shares of the company’s stock valued at $50,195,000 after buying an additional 83,327 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of Allakos by 12.8% in the 2nd quarter. Alliancebernstein L.P. now owns 576,044 shares of the company’s stock valued at $49,177,000 after buying an additional 65,294 shares during the period. Institutional investors and hedge funds own 82.70% of the company’s stock.

Allakos Company Profile

Allakos, Inc engages in the development of therapeutic antibodies. Its primary product is AK002, a monoclonal antibody used for the treatment of various eosinophil and mast cell related diseases such as eosinophilic gastritis, urticaria, severe allergic conjunctivitis, and indolent systemic mastocytosis.

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