Allakos' Antibodies For Chronic Skin Conditions, Analyst Sees Over 400% Stock Upside
Portfolio Pulse from Vandana Singh
JMP Securities initiated coverage on Allakos Inc (NASDAQ:ALLK), noting its novel monoclonal antibodies targeting Siglec receptors on immune cells. The analyst, Jonathan Wolleben, maintains a Market Outperform rating with a price target of $11. Allakos' lead candidates lirentelimab and AK006 have broad applications and are undergoing clinical trials for chronic skin conditions. The current treatment options, including Genentech/Novartis AG's (NYSE:NVS) Xolair, offer limited relief and have safety concerns.
September 27, 2023 | 6:50 pm
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POSITIVE IMPACT
Allakos Inc's stock is expected to see significant upside due to its promising monoclonal antibodies targeting Siglec receptors on immune cells. The company's lead candidates are undergoing clinical trials for chronic skin conditions.
The analyst from JMP Securities has given a Market Outperform rating to Allakos Inc, indicating a positive outlook for the company's stock. The company's novel monoclonal antibodies, which are currently undergoing clinical trials, could potentially revolutionize the treatment of chronic skin conditions. This could significantly increase the company's market share and revenues, leading to a substantial increase in its stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Genentech/Novartis AG's Xolair, a current treatment option for chronic skin conditions, offers limited relief and has safety concerns. This could potentially impact the company's market share and revenues negatively.
Genentech/Novartis AG's Xolair, a current treatment option for chronic skin conditions, has been noted to offer limited relief and bear safety concerns. This could potentially lead to a decrease in the product's market share and revenues, negatively impacting the company's stock price. Furthermore, the emergence of more effective and safer alternatives, such as Allakos Inc's antibodies, could exacerbate this impact.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70