Allogene Therapeutics (ALLO) Received its Third Buy in a Row

After Oppenheimer and Canaccord Genuity gave Allogene Therapeutics (NASDAQ: ALLO) a Buy rating last month, the company received another Buy, this time from William Blair. Analyst Raju Prasad maintained a Buy rating on Allogene Therapeutics yesterday. The company’s shares closed last Monday at $19.92, close to its 52-week low of $17.43.

According to TipRanks.com, Prasad is a 4-star analyst with an average return of 4.1% and a 41.1% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Alexion Pharmaceuticals, and Rocket Pharmaceuticals.

Currently, the analyst consensus on Allogene Therapeutics is a Moderate Buy with an average price target of $32.00, a 61.1% upside from current levels. In a report issued on March 13, H.C. Wainwright also initiated coverage with a Buy rating on the stock with a $35.00 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.