Research Analysts Offer Predictions for Allogene Therapeutics, Inc.’s Q3 2024 Earnings (NASDAQ:ALLO)

Allogene Therapeutics, Inc. (NASDAQ:ALLO) – Investment analysts at Zacks Research increased their Q3 2024 earnings per share (EPS) estimates for Allogene Therapeutics in a research note issued on Wednesday, August 28th. Zacks Research analyst R. Department now expects that the company will post earnings of ($0.37) per share for the quarter, up from their previous forecast of ($0.39). The consensus estimate for Allogene Therapeutics’ current full-year earnings is ($1.38) per share. Zacks Research also issued estimates for Allogene Therapeutics’ Q4 2024 earnings at ($0.39) EPS, FY2024 earnings at ($1.46) EPS, Q1 2025 earnings at ($0.38) EPS, Q2 2025 earnings at ($0.38) EPS, Q3 2025 earnings at ($0.40) EPS, Q4 2025 earnings at ($0.44) EPS, FY2025 earnings at ($1.60) EPS, Q1 2026 earnings at ($0.45) EPS, Q2 2026 earnings at ($0.45) EPS and FY2026 earnings at ($1.88) EPS.

Allogene Therapeutics (NASDAQ:ALLO) last released its earnings results on Wednesday, August 7th. The company reported ($0.32) EPS for the quarter, beating 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%.

A number of other research firms also recently commented on ALLO. Canaccord Genuity Group reduced their target price on Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Stifel Nicolaus lifted their price target on Allogene Therapeutics from $4.40 to $4.60 and gave the company a “hold” rating in a research report on Tuesday, May 14th. Citigroup lifted their price target on Allogene Therapeutics from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Piper Sandler started coverage on Allogene Therapeutics in a research report on Friday, May 31st. They set an “overweight” rating and a $11.00 price target on the stock. Finally, Oppenheimer started coverage on Allogene Therapeutics in a research note on Thursday, August 8th. They set an “outperform” rating and a $11.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.96.

Allogene Therapeutics Stock Performance

ALLO stock opened at $2.51 on Monday. The firm has a market cap of $524.87 million, a P/E ratio of -1.40 and a beta of 0.85. Allogene Therapeutics has a 1 year low of $2.01 and a 1 year high of $5.78. The stock has a 50-day simple moving average of $2.61 and a 200-day simple moving average of $3.21.

Hedge Funds Weigh In On Allogene Therapeutics

Institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its stake in shares of Allogene Therapeutics by 429.6% in the second quarter. Nisa Investment Advisors LLC now owns 10,767 shares of the company’s stock worth $25,000 after purchasing an additional 8,734 shares during the period. Federated Hermes Inc. bought a new position in Allogene Therapeutics during the second quarter valued at about $29,000. Phoenix Wealth Advisors acquired a new stake in Allogene Therapeutics during the second quarter valued at approximately $30,000. Axxcess Wealth Management LLC acquired a new stake in Allogene Therapeutics during the fourth quarter valued at approximately $34,000. Finally, Algert Global LLC acquired a new stake in Allogene Therapeutics during the second quarter valued at approximately $35,000. 83.63% of the stock is currently owned by institutional investors.

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. 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).