FY2024 EPS Estimates for Allakos Inc. Boosted by Analyst (NASDAQ:ALLK)

Allakos Inc. (NASDAQ:ALLK) – Equities research analysts at Leerink Partnrs raised their FY2024 earnings per share estimates for shares of Allakos in a research report issued on Thursday, August 8th. Leerink Partnrs analyst T. Smith now anticipates that the company will earn ($1.24) per share for the year, up from their previous estimate of ($1.27). The consensus estimate for Allakos’ current full-year earnings is ($1.22) per share. Leerink Partnrs also issued estimates for Allakos’ FY2025 earnings at ($0.57) EPS, FY2026 earnings at ($0.46) EPS, FY2027 earnings at ($0.46) EPS and FY2028 earnings at ($0.43) EPS.

Other equities analysts have also issued research reports about the company. Jefferies Financial Group dropped their price objective on Allakos from $1.50 to $1.00 and set a “hold” rating on the stock in a report on Thursday, July 18th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Allakos in a research report on Thursday, June 20th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $3.00 price objective on shares of Allakos in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $1.67.

Allakos Trading Up 3.3 %

Shares of Allakos stock opened at $0.68 on Monday. The company has a fifty day simple moving average of $0.93 and a 200-day simple moving average of $1.15. Allakos has a 12-month low of $0.66 and a 12-month high of $4.12. The stock has a market cap of $60.54 million, a price-to-earnings ratio of -0.28 and a beta of 0.88.

Allakos (NASDAQ:ALLK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.02.

Institutional Trading of Allakos

Hedge funds have recently made changes to their positions in the company. BVF Inc. IL raised its holdings in Allakos by 93.5% during the first quarter. BVF Inc. IL now owns 16,552,417 shares of the company’s stock worth $20,856,000 after purchasing an additional 8,000,000 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Allakos by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 3,794,729 shares of the company’s stock worth $4,781,000 after buying an additional 539,087 shares in the last quarter. Opaleye Management Inc. acquired a new stake in shares of Allakos in the 1st quarter valued at approximately $3,068,000. Acadian Asset Management LLC lifted its holdings in shares of Allakos by 32.4% in the 2nd quarter. Acadian Asset Management LLC now owns 1,762,814 shares of the company’s stock valued at $1,761,000 after buying an additional 431,175 shares during the period. Finally, Platinum Investment Management Ltd. boosted its stake in shares of Allakos by 84.6% in the first quarter. Platinum Investment Management Ltd. now owns 1,172,061 shares of the company’s stock valued at $1,477,000 after buying an additional 537,038 shares in the last quarter. Institutional investors and hedge funds own 84.64% of the company’s stock.

Insider Activity at Allakos

In other Allakos news, CFO Harlan Baird Radford sold 87,064 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $1.01, for a total transaction of $87,934.64. Following the completion of the sale, the chief financial officer now directly owns 204,390 shares of the company’s stock, valued at approximately $206,433.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.12% of the stock is currently owned by insiders.

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.