H.C. Wainwright Keeps a Buy Rating on Allogene Therapeutics (ALLO)


In a report released today, Debjit Chattopadhyay from H.C. Wainwright reiterated a Buy rating on Allogene Therapeutics (ALLO), with a price target of $35.00. The company’s shares closed last Wednesday at $30.07.

According to TipRanks.com, Chattopadhyay is a 4-star analyst with an average return of 4.3% and a 43.1% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Molecular Partners AG, and Precision BioSciences.

Currently, the analyst consensus on Allogene Therapeutics is a Moderate Buy with an average price target of $31.63, representing a 1.6% upside. In a report issued on April 29, Canaccord Genuity also maintained a Buy rating on the stock with a $36.00 price target.

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Based on Allogene Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $61.03 million. In comparison, last year the company had a GAAP net loss of $30.51 million.

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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. Its engineered T cells are allogeneic, which are derived from healthy donors for intended use in any patient. The company was founded by Arie S. Belldegrun, David D. Chang, and Joshua A. Kazam in November 2017 and is headquartered in South San Francisco, CA.

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