Q3 EPS Forecast for Allogene Therapeutics Raised by Analyst

Allogene Therapeutics, Inc. (NASDAQ:ALLO) – Equities researchers at Zacks Research raised their Q3 2024 earnings estimates for shares of Allogene Therapeutics in a report issued on Tuesday, October 22nd. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of ($0.36) for the quarter, up from their previous forecast of ($0.37). The consensus estimate for Allogene Therapeutics’ current full-year earnings is ($1.38) per share. Zacks Research also issued estimates for Allogene Therapeutics’ FY2024 earnings at ($1.44) EPS, Q3 2025 earnings at ($0.38) EPS, Q4 2025 earnings at ($0.43) EPS, FY2025 earnings at ($1.56) EPS, Q1 2026 earnings at ($0.41) EPS, Q2 2026 earnings at ($0.42) EPS, Q3 2026 earnings at ($0.41) EPS and FY2026 earnings at ($1.69) EPS.

Other research analysts have also issued reports about the company. Canaccord Genuity Group lowered their price target on Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Truist Financial reissued a “buy” rating and set a $14.00 target price (down previously from $17.00) on shares of Allogene Therapeutics in a research note on Friday, August 9th. Oppenheimer assumed coverage on shares of Allogene Therapeutics in a research note on Thursday, August 8th. They issued an “outperform” rating and a $11.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $9.00 price objective on shares of Allogene Therapeutics in a report on Thursday, August 15th. Finally, Citigroup boosted their target price on Allogene Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Allogene Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $9.96.

Allogene Therapeutics Price Performance

ALLO opened at $2.44 on Thursday. The stock’s 50 day moving average price is $2.69 and its 200 day moving average price is $2.72. The stock has a market cap of $509.96 million, a P/E ratio of -1.36 and a beta of 0.83. Allogene Therapeutics has a 12 month low of $2.01 and a 12 month high of $5.78.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates 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%.

Hedge Funds Weigh In On Allogene Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Primecap Management Co. CA boosted its holdings in shares of Allogene Therapeutics by 4.1% in the second quarter. Primecap Management Co. CA now owns 5,670,226 shares of the company’s stock worth $13,212,000 after buying an additional 221,840 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Allogene Therapeutics by 76.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,177,619 shares of the company’s stock worth $18,675,000 after purchasing an additional 1,806,147 shares during the period. Perceptive Advisors LLC purchased a new position in Allogene Therapeutics during the 2nd quarter worth approximately $6,349,000. Dimensional Fund Advisors LP grew its position in Allogene Therapeutics by 24.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,550,640 shares of the company’s stock worth $5,944,000 after purchasing an additional 507,021 shares in the last quarter. Finally, Lynx1 Capital Management LP acquired a new stake in Allogene Therapeutics during the 2nd quarter valued at $5,192,000. 83.63% of the stock is currently 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. 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).