Zacks Investment Research Upgrades Allakos (NASDAQ:ALLK) to “Hold”

Allakos (NASDAQ:ALLK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday, 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. “

ALLK has been the subject of a number of other research reports. Bank of America started coverage on Allakos in a report on Friday, January 15th. They set a “buy” rating and a $145.00 target price for the company. SVB Leerink started coverage on Allakos in a research report on Monday, December 21st. They set an “outperform” rating for the company. Finally, Cantor Fitzgerald started coverage on Allakos in a research report on Wednesday, February 24th. They set an “overweight” rating and a $218.00 price target for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $167.67.

Allakos stock opened at $123.73 on Thursday. Allakos has a 52 week low of $41.60 and a 52 week high of $157.98. The company has a market capitalization of $6.57 billion, a price-to-earnings ratio of -45.16 and a beta of 1.02. The stock has a 50-day moving average price of $131.70 and a 200 day moving average price of $108.50.

Allakos (NASDAQ:ALLK) last released its earnings results on Sunday, February 28th. The company reported ($0.86) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.88) by $0.02. On average, analysts expect that Allakos will post -3.08 EPS for the current fiscal year.

In other news, major shareholder Robert J. More sold 12,676 shares of the business’s stock in a transaction that occurred on Friday, March 5th. The stock was sold at an average price of $117.78, for a total value of $1,492,979.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Edward Walker sold 103,415 shares of the business’s stock in a transaction that occurred on Thursday, December 31st. The shares were sold at an average price of $141.29, for a total value of $14,611,505.35. Insiders sold 144,158 shares of company stock valued at $19,365,120 over the last 90 days. Company insiders own 44.77% of the company’s stock.

Several institutional investors have recently bought and sold shares of ALLK. Norges Bank purchased a new stake in shares of Allakos in the fourth quarter valued at approximately $39,718,000. BlackRock Inc. increased its position in shares of Allakos by 6.4% during the fourth quarter. BlackRock Inc. now owns 3,530,334 shares of the company’s stock worth $494,249,000 after purchasing an additional 211,528 shares in the last quarter. Natixis purchased a new stake in shares of Allakos during the third quarter worth approximately $4,684,000. Voloridge Investment Management LLC purchased a new stake in shares of Allakos during the fourth quarter worth approximately $3,504,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Allakos by 12.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 208,447 shares of the company’s stock worth $29,183,000 after purchasing an additional 23,825 shares in the last quarter. Institutional investors and hedge funds own 65.35% of the company’s stock.

Allakos Company Profile

Allakos Inc operates as a clinical stage biopharmaceutical company. The company is developing antolimab (AK002) for the treatment of eosinophilic gastritis and eosinophilic gastroenteritis, chronic urticaria, indolent systemic mastocytosis, and severe allergic conjunctivitis. Allakos Inc was founded in 2012 and is headquartered in Redwood City, California.

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