Zacks Research Analysts Raise Earnings Estimates for Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Allogene Therapeutics, Inc. (NASDAQ:ALLO – Get Rating) – Zacks Research lifted their Q1 2023 earnings estimates for Allogene Therapeutics in a research note issued on Tuesday, March 14th. Zacks Research analyst S. Ganoria now expects that the company will earn ($0.60) per share for the quarter, up from their previous forecast of ($0.75). The consensus estimate for Allogene Therapeutics’ current full-year earnings is ($2.50) per share. Zacks Research also issued estimates for Allogene Therapeutics’ Q2 2023 earnings at ($0.59) EPS, Q3 2023 earnings at ($0.59) EPS, Q4 2023 earnings at ($0.58) EPS, FY2023 earnings at ($2.36) EPS, Q1 2024 earnings at ($0.64) EPS, Q2 2024 earnings at ($0.64) EPS, Q3 2024 earnings at ($0.63) EPS, Q4 2024 earnings at ($0.62) EPS and FY2024 earnings at ($2.53) EPS.

ALLO has been the subject of a number of other research reports. Truist Financial decreased their target price on shares of Allogene Therapeutics from $29.00 to $20.00 in a research report on Wednesday, March 1st. Robert W. Baird raised shares of Allogene Therapeutics from a “neutral” rating to an “outperform” rating and set a $12.00 price objective for the company in a research report on Friday, January 6th. They noted that the move was a valuation call. Bank of America downgraded shares of Allogene Therapeutics from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $24.00 to $9.00 in a research report on Monday, December 12th. JMP Securities reduced their price target on shares of Allogene Therapeutics from $23.00 to $19.00 and set a “market perform” rating for the company in a research report on Thursday, March 2nd. Finally, HC Wainwright reduced their price target on shares of Allogene Therapeutics from $43.00 to $29.00 and set a “buy” rating for the company in a research report on Monday, November 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Allogene Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $18.67.

Allogene Therapeutics Trading Down 0.4 %

Shares of NASDAQ ALLO opened at $5.49 on Friday. The company has a 50 day simple moving average of $6.75 and a 200 day simple moving average of $8.89. Allogene Therapeutics has a 1 year low of $5.30 and a 1 year high of $17.49.

Allogene Therapeutics (NASDAQ:ALLO – Get Rating) last posted its earnings results on Tuesday, February 28th. The company reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.05. The firm had revenue of $0.05 million during the quarter, compared to analysts’ expectations of $0.06 million. Allogene Therapeutics had a negative net margin of 136,885.59% and a negative return on equity of 43.44%. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.54) earnings per share.

Institutional Trading of Allogene Therapeutics

Hedge funds have recently bought and sold shares of the company. CI Investments Inc. lifted its position in Allogene Therapeutics by 80.5% in the 2nd quarter. CI Investments Inc. now owns 2,193 shares of the company’s stock worth $25,000 after buying an additional 978 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Allogene Therapeutics in the third quarter valued at approximately $34,000. Great West Life Assurance Co. Can bought a new position in shares of Allogene Therapeutics during the third quarter valued at approximately $67,000. Penserra Capital Management LLC bought a new position in shares of Allogene Therapeutics during the first quarter valued at approximately $66,000. Finally, Nordwand Advisors LLC bought a new position in shares of Allogene Therapeutics during the fourth quarter valued at approximately $60,000. Institutional investors own 72.94% of the company’s stock.

Allogene Therapeutics Company Profile

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Allogene Therapeutics, Inc operates as a clinical stage immuno-oncology company pioneering the development and commercialization of genetically engineered allogeneic T cell therapies for the treatment of cancer. The firm develops a pipeline of off-the-shelf T cell product candidates that are designed to target and kill cancer cells.