Allogene Therapeutics (ALLO) Receives a Buy from Oppenheimer

By Ryan Adsit

Oppenheimer analyst Mark Breidenbach assigned a Buy rating to Allogene Therapeutics (ALLOResearch Report) yesterday and set a price target of $55.00. The company’s shares closed last Friday at $48.16.

According to TipRanks.com, Breidenbach is a 5-star analyst with an average return of 11.0% and a 45.4% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Iovance Biotherapeutics, and Arvinas Holding Company.

Allogene Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $52.44, implying a 19.2% upside from current levels. In a report issued on May 19, Roth Capital also upgraded the stock to Buy with a $60.00 price target.

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The company has a one-year high of $55.00 and a one-year low of $17.43. Currently, Allogene Therapeutics has an average volume of 1.04M.

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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.