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

JMP Securities reissued their market outperform rating on shares of Allakos (NASDAQ:ALLK) in a research report sent to investors on Thursday, Benzinga reports. JMP Securities currently has a $3.00 price target on the stock.

Several other research analysts have also recently issued reports on the stock. Jefferies Financial Group cut their price target on shares of Allakos from $1.50 to $1.00 and set a hold rating for the company in a report on Thursday, July 18th. Cantor Fitzgerald reaffirmed a neutral rating on shares of Allakos in a research note on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $1.67.

Allakos Stock Up 10.5 %

Shares of ALLK stock opened at $0.64 on Thursday. The firm has a 50 day moving average of $0.70 and a two-hundred day moving average of $0.99. The stock has a market capitalization of $56.32 million, a PE ratio of -0.26 and a beta of 1.16. Allakos has a 52 week low of $0.54 and a 52 week high of $3.41.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ALLK. Point72 DIFC Ltd acquired a new position in Allakos in the second quarter worth about $25,000. Cubist Systematic Strategies LLC bought a new stake in Allakos in the 2nd quarter valued at about $55,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Allakos in the 2nd quarter worth about $112,000. Aristides Capital LLC acquired a new position in shares of Allakos during the fourth quarter worth approximately $153,000. Finally, BNP Paribas Financial Markets raised its stake in Allakos by 1,041.1% during the 1st quarter. BNP Paribas Financial Markets now owns 205,663 shares of the company’s stock valued at $259,000 after acquiring an additional 187,640 shares in the last quarter. 84.64% of the stock is owned by institutional investors and hedge funds.

About Allakos

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.