Zacks: Analysts Expect Allakos Inc. (NASDAQ:ALLK) to Post -$1.12 Earnings Per Share

Wall Street analysts expect Allakos Inc. (NASDAQ:ALLK) to post earnings per share (EPS) of ($1.12) for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Allakos’ earnings, with the lowest EPS estimate coming in at ($1.22) and the highest estimate coming in at ($1.06). Allakos posted earnings per share of ($0.86) during the same quarter last year, which indicates a negative year-over-year growth rate of 30.2%. The company is expected to issue its next quarterly earnings report on Monday, November 8th.

On average, analysts expect that Allakos will report full year earnings of ($4.45) per share for the current financial year, with EPS estimates ranging from ($4.77) to ($4.20). For the next fiscal year, analysts forecast that the company will post earnings of ($5.84) per share, with EPS estimates ranging from ($8.08) to ($4.55). Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Allakos.

Allakos (NASDAQ:ALLK) last released its quarterly earnings data on Sunday, August 8th. The company reported ($1.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.06) by ($0.01).

Several equities research analysts have recently weighed in on the stock. Cowen assumed coverage on shares of Allakos in a research report on Thursday, July 15th. They issued an “outperform” rating and a $76.53 price target for the company. Morgan Stanley initiated coverage on shares of Allakos in a report on Thursday, August 26th. They issued an “equal weight” rating and a $88.00 price target on the stock. Finally, Zacks Investment Research lowered Allakos from a “buy” rating to a “hold” rating in a research note on Friday, August 13th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $141.42.

Several institutional investors have recently made changes to their positions in ALLK. Morgan Stanley increased its position in shares of Allakos by 48.3% during the second quarter. Morgan Stanley now owns 159,531 shares of the company’s stock worth $13,619,000 after purchasing an additional 51,993 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Allakos by 60.9% during the 2nd quarter. Wells Fargo & Company MN now owns 8,048 shares of the company’s stock worth $686,000 after purchasing an additional 3,047 shares during the period. Invesco Ltd. grew its holdings in shares of Allakos by 12.5% in the second quarter. Invesco Ltd. now owns 89,341 shares of the company’s stock valued at $7,627,000 after purchasing an additional 9,951 shares in the last quarter. Metropolitan Life Insurance Co NY increased its holdings in Allakos by 137,257.1% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 9,615 shares of the company’s stock worth $821,000 after purchasing an additional 9,608 shares during the period. Finally, Millennium Management LLC grew its holdings in Allakos by 246.3% during the 2nd quarter. Millennium Management LLC now owns 72,646 shares of the company’s stock worth $6,202,000 after acquiring an additional 51,668 shares in the last quarter. 82.70% of the stock is owned by institutional investors and hedge funds.

ALLK stock traded up $0.26 during midday trading on Wednesday, reaching $108.26. The company’s stock had a trading volume of 1,821 shares, compared to its average volume of 254,090. Allakos has a 1 year low of $75.41 and a 1 year high of $157.98. The stock has a fifty day simple moving average of $87.78 and a two-hundred day simple moving average of $96.98. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of -28.27 and a beta of 0.90.

Allakos Company Profile

Allakos, Inc engages in the development of therapeutic antibodies. Its primary product is AK002, a monoclonal antibody used for the treatment of various eosinophil and mast cell related diseases such as eosinophilic gastritis, urticaria, severe allergic conjunctivitis, and indolent systemic mastocytosis.

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Earnings History and Estimates for Allakos (NASDAQ:ALLK)

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