Zacks Investment Research downgraded shares of Allakos (NASDAQ:ALLK) from a buy rating to a hold rating in a research report report published on Tuesday morning.

According to Zacks, “Allakos Inc. is a clinical stage bio-technology company. It discovers and develops therapeutic antibodies for the treatment of allergic, inflammatory and proliferative diseases. Allakos Inc. is based in CA, United States. “

Other research analysts have also issued reports about the company. Goldman Sachs Group began coverage on Allakos in a research report on Monday, August 13th. They issued a neutral rating and a $31.00 target price on the stock. Jefferies Financial Group began coverage on Allakos in a report on Monday, August 13th. They set a buy rating and a $53.00 price objective on the stock. Finally, William Blair began coverage on Allakos in a report on Monday, August 13th. They set an outperform rating on the stock.

ALLK stock traded down $4.16 during mid-day trading on Tuesday, hitting $53.17. The stock had a trading volume of 225,865 shares, compared to its average volume of 133,438. Allakos has a 1-year low of $26.00 and a 1-year high of $58.52.

Allakos (NASDAQ:ALLK) last issued its earnings results on Thursday, November 8th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.10). Equities research analysts expect that Allakos will post -1.07 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Allakos during the 3rd quarter valued at about $1,545,000. Bank of New York Mellon Corp acquired a new position in shares of Allakos during the 3rd quarter valued at about $978,000. BlackRock Inc. bought a new stake in Allakos during the 3rd quarter valued at approximately $30,938,000. Wells Fargo & Company MN purchased a new position in shares of Allakos during the 3rd quarter valued at $623,000. Finally, Rhumbline Advisers bought a new stake in shares of Allakos during the 3rd quarter worth $285,000. 0.10% of the stock is currently owned by institutional investors and hedge funds.

About Allakos

Allakos Inc, a clinical stage biopharmaceutical company, focuses on developing therapeutic antibodies targeting allergic, inflammatory, and proliferative diseases. The company is developing AK002 for the treatment of eosinophilic gastritis and eosinophilic gastroenteritis, urticaria, indolent systemic mastocytosis, and severe allergic conjunctivitis.

Further Reading: Growth Stocks

Get a free copy of the Zacks research report on Allakos (ALLK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Allakos Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allakos and related companies with MarketBeat.com's FREE daily email newsletter.