William Blair Thinks Allogene Therapeutics’ Stock is Going to Recover

William Blair analyst Raju Prasad reiterated a Buy rating on Allogene Therapeutics (ALLO) yesterday. The company’s shares closed last Wednesday at $28.71, close to its 52-week low of $24.85.

According to TipRanks.com, Prasad is a 4-star analyst with an average return of 12.1% and a 48.4% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Alexion Pharmaceuticals, and Rocket Pharmaceuticals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Allogene Therapeutics with a $47.00 average price target, which is a 57.3% upside from current levels. In a report issued on April 22, H.C. Wainwright also reiterated a Buy rating on the stock with a $43.00 price target.

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Allogene Therapeutics’ market cap is currently $4.16B and has a P/E ratio of -14.90. The company has a Price to Book ratio of 4.05.

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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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