Jefferies Downgrades Allakos to Hold, Lowers Price Target to $1.5
Portfolio Pulse from Benzinga Newsdesk
Jefferies analyst Kevin Strang has downgraded Allakos (NASDAQ:ALLK) from Buy to Hold and reduced the price target from $6 to $1.5, indicating a more cautious outlook on the company's stock.

January 17, 2024 | 10:56 am
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Allakos' stock may face downward pressure after Jefferies downgraded the stock from Buy to Hold and significantly lowered the price target from $6 to $1.5.
Analyst downgrades typically lead to a negative short-term reaction in the stock market as they suggest a less optimistic view of the company's future performance. The substantial reduction in the price target further emphasizes a bearish outlook, which could result in a decrease in investor confidence and a potential drop in the stock price.
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