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Allogene Therapeutics: Strategic Adjustments and Positive Interim Data Justify Buy Rating

Allogene Therapeutics: Strategic Adjustments and Positive Interim Data Justify Buy Rating

William Blair analyst Sami Corwin has maintained their bullish stance on ALLO stock, giving a Buy rating today.

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Sami Corwin has given his Buy rating due to a combination of factors that highlight the potential of Allogene Therapeutics’ ongoing trials and their strategic adjustments. The decision to proceed with the ALPHA3 trial using a standard lymphodepletion regimen of fludarabine and cyclophosphamide (FC) reflects a proactive approach to addressing safety concerns following a patient death in the FCA arm. This adjustment, made in collaboration with regulatory bodies, underscores the company’s commitment to patient safety and trial integrity.
Furthermore, the early, unplanned review of trial data revealed encouraging results, with no cases of adenoviral infection or liver failure observed in patients treated with the FC regimen. This suggests a more favorable safety profile compared to previous trials, potentially enhancing the therapeutic’s appeal. These strategic decisions and positive interim data contribute to the confidence in Allogene Therapeutics’ future prospects, justifying the Buy rating.

In another report released today, Oppenheimer also reiterated a Buy rating on the stock with a $7.00 price target.

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