Jefferies analyst Farzin Haque assumed coverage of Allakos with a Hold rating and price target of $1, down from $1.50. Allakos is trading below cash following lirentelimab’s miss on chronic spontaneous urticaria and atopic dermatitis, and potential skepticism on the prospects of the next-generation AK006, the analyst tells investors in a research note. The firm wants more conviction with the interim AK006 CSU patient data before getting more conviction in the shares.
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Read More on ALLK:
- Allakos Reveals New Corporate Strategy and Performance Insights
- Allakos: results from AK006 trial, showing ‘high receptor occupancy’ in cells
- Allakos Announces Positive Results from its Ongoing Phase 1 Trial of AK006 in Healthy Volunteers, with AK006 Demonstrating High Receptor Occupancy on Mast Cells and a Favorable Safety Profile
- Allakos announces first patient dosed in Phase 1 trial of AK006
- Allakos Announces First Patient Dosed in Phase 1 Trial of AK006 in Chronic Spontaneous Urticaria
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