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

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

Allakos Stock Performance

Shares of ALLK stock traded down $0.06 during mid-day trading on Thursday, hitting $1.35. The company’s stock had a trading volume of 279,611 shares, compared to its average volume of 1,175,401. The company’s fifty day simple moving average is $0.80 and its 200-day simple moving average is $0.93. Allakos has a 52 week low of $0.54 and a 52 week high of $3.41.

Analyst Upgrades and Downgrades

ALLK has been the subject of several research analyst reports. Jefferies Financial Group lowered 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. JMP Securities reiterated a “market outperform” rating and issued a $3.00 target price on shares of Allakos in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $1.67.

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.