Oppenheimer Begins Coverage on Allogene Therapeutics (ALLO)

Oppenheimer started coverage on shares of Allogene Therapeutics (NASDAQ:ALLO) in a research note issued to investors on Friday, The Fly reports. The firm issued an outperform rating and a $45.00 price target on the stock.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Allogene Therapeutics from a sell rating to a hold rating in a research note on Monday, March 25th. William Blair reaffirmed a buy rating on shares of Allogene Therapeutics in a report on Monday, April 15th. Raymond James began coverage on Allogene Therapeutics in a report on Thursday, March 14th. They issued an outperform rating and a $40.00 price target for the company. JPMorgan Chase & Co. reaffirmed a hold rating and issued a $29.00 price target on shares of Allogene Therapeutics in a report on Monday, March 11th. Finally, Piper Jaffray Companies began coverage on Allogene Therapeutics in a report on Friday, March 29th. They issued an overweight rating and a $50.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Allogene Therapeutics currently has an average rating of Buy and a consensus price target of $38.00.

Shares of NASDAQ:ALLO opened at $31.09 on Friday. Allogene Therapeutics has a 52 week low of $21.67 and a 52 week high of $35.55.

Allogene Therapeutics (NASDAQ:ALLO) last issued its earnings results on Friday, March 8th. The company reported ($0.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.10). Research analysts expect that Allogene Therapeutics will post -2.13 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC bought a new stake in Allogene Therapeutics during the 4th quarter worth about $27,000. Legal & General Group Plc bought a new stake in Allogene Therapeutics during the 4th quarter worth about $89,000. Partner Investment Management L.P. bought a new stake in Allogene Therapeutics during the 4th quarter worth about $135,000. Citigroup Inc. bought a new stake in Allogene Therapeutics during the 4th quarter worth about $152,000. Finally, Strs Ohio bought a new stake in Allogene Therapeutics during the 4th quarter worth about $156,000. 51.59% of the stock is owned by institutional investors and hedge funds.

About Allogene Therapeutics

Allogene Therapeutics, Inc, a clinical stage immuno-oncology company, develops and commercializes genetically engineered allogeneic T cell therapies for the treatment of cancer. The company is developing UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate, which is in Phase I clinical trials for the treatment of pediatric and adult patients with R/R CD19 positive B-cell ALL; and ALLO-501, an allogeneic CAR T cell product candidate targeting CD19 to treat R/R non-Hodgkin lymphoma.

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