Allakos (NASDAQ:ALLK) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Allakos (NASDAQ:ALLK) posted its earnings results on Wednesday. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01, Zacks reports.

Allakos Stock Down 4.3 %

Allakos stock traded down $0.06 during trading hours on Thursday, reaching $1.35. 279,611 shares of the company’s stock were exchanged, compared to its average volume of 844,208. The firm has a market capitalization of $119.95 million, a PE ratio of -0.58 and a beta of 1.03. The firm’s 50 day simple moving average is $0.80 and its 200 day simple moving average is $0.93. Allakos has a twelve month low of $0.54 and a twelve month high of $3.41.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ALLK shares. JMP Securities restated a “market outperform” rating and issued a $3.00 price objective on shares of Allakos in a report on Thursday, September 26th. Jefferies Financial Group lowered their price objective on Allakos from $1.50 to $1.00 and set a “hold” rating for the company in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $1.67.

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.