Canaccord Genuity analyst John Newman has maintained their bullish stance on ALLO stock, giving a Buy rating on November 7.
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John Newman has given his Buy rating due to a combination of factors including upcoming data releases and potential advancements in Allogene Therapeutics’ pipeline. The company is expected to release proof-of-concept data for ALLO-329 in autoimmune diseases in the first half of 2026, which could be promising due to its dual targeting of B-cells and T-cells. Additionally, Allogene is exploring a lymphodepletion-free treatment regimen that could enhance tolerability and ease of use for physicians.
Furthermore, John Newman anticipates a positive futility analysis for cema-cel in first-line consolidation treatment for Diffuse Large B-cell Lymphoma (DLBCL) in the first half of 2026. Despite earlier challenges, such as the stoppage of the ALLO-647 arm, the potential for a significant difference in mrd- conversion rates between active and control arms supports the Buy rating. The company’s financial position, with a cash balance of $277 million as of September 2025, is projected to sustain operations until the second half of 2027, further reinforcing the positive outlook.
In another report released on November 7, Piper Sandler also maintained a Buy rating on the stock with a $7.00 price target.