Zacks Research Issues Positive Forecast for ALLO Earnings

Allogene Therapeutics, Inc. (NASDAQ:ALLO) – Research analysts at Zacks Research increased their Q3 2024 earnings per share estimates for shares of Allogene Therapeutics in a note issued to investors on Tuesday, October 22nd. Zacks Research analyst R. Department now expects that the company will earn ($0.36) per share for the quarter, up from their previous estimate of ($0.37). The consensus estimate for Allogene Therapeutics’ current full-year earnings is ($1.38) per share. Zacks Research also issued estimates for Allogene Therapeutics’ FY2024 earnings at ($1.44) EPS, Q3 2025 earnings at ($0.38) EPS, Q4 2025 earnings at ($0.43) EPS, FY2025 earnings at ($1.56) EPS, Q1 2026 earnings at ($0.41) EPS, Q2 2026 earnings at ($0.42) EPS, Q3 2026 earnings at ($0.41) EPS and FY2026 earnings at ($1.69) EPS.

ALLO has been the subject of several other reports. Oppenheimer started coverage on Allogene Therapeutics in a research report on Thursday, August 8th. They issued an “outperform” rating and a $11.00 price target for the company. Canaccord Genuity Group reduced their price target on Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Allogene Therapeutics in a research report on Thursday, August 15th. Truist Financial reissued a “buy” rating and issued a $14.00 price target (down from $17.00) on shares of Allogene Therapeutics in a research report on Friday, August 9th. Finally, Citigroup boosted their price target on Allogene Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Allogene Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $9.96.

Allogene Therapeutics Trading Down 1.1 %

Shares of ALLO stock opened at $2.77 on Thursday. The stock has a market capitalization of $578.93 million, a price-to-earnings ratio of -1.55 and a beta of 0.83. Allogene Therapeutics has a twelve month low of $2.01 and a twelve month high of $5.78. The stock has a fifty day simple moving average of $2.68 and a two-hundred day simple moving average of $2.74.

Allogene Therapeutics (NASDAQ:ALLO) last issued its earnings results on Wednesday, August 7th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.03. Allogene Therapeutics had a negative return on equity of 50.24% and a negative net margin of 223,139.98%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALLO. Nisa Investment Advisors LLC increased its position in Allogene Therapeutics by 429.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 10,767 shares of the company’s stock valued at $25,000 after buying an additional 8,734 shares in the last quarter. Federated Hermes Inc. purchased a new stake in Allogene Therapeutics during the 2nd quarter valued at about $29,000. Phoenix Wealth Advisors purchased a new stake in Allogene Therapeutics during the 2nd quarter valued at about $30,000. Private Advisor Group LLC purchased a new stake in Allogene Therapeutics during the 3rd quarter valued at about $34,000. Finally, Algert Global LLC purchased a new stake in Allogene Therapeutics during the 2nd quarter valued at about $35,000. 83.63% of the stock is owned by institutional investors and hedge funds.

Allogene Therapeutics Company Profile

Allogene Therapeutics, Inc, a clinical stage immuno-oncology company, develops and commercializes genetically engineered allogeneic T cell therapies for the treatment of cancer. It develops, manufactures, and commercializes UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate for the treatment of pediatric and adult patients with R/R CD19 positive B-cell acute lymphoblastic leukemia (ALL).