JMP Securities Maintains Market Outperform on Allakos, Lowers Price Target to $3
Portfolio Pulse from Benzinga Newsdesk
JMP Securities analyst Jonathan Wolleben has maintained a Market Outperform rating on Allakos (NASDAQ:ALLK) but reduced the price target from $10 to $3.
January 17, 2024 | 7:16 pm
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Allakos' stock rating remains Market Outperform by JMP Securities, but the price target has been significantly lowered from $10 to $3.
The reduction in price target from $10 to $3 is a significant change, indicating a lowered expectation of the stock's future price performance. While the Market Outperform rating suggests that the analyst still believes the stock will perform better than the overall market, the drastic cut in the price target could negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100