In a report released today, Robert Burns from H.C. Wainwright reiterated a Buy rating on Allogene Therapeutics (ALLO – Research Report), with a price target of $8.00.
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Robert Burns has given his Buy rating due to a combination of factors related to Allogene Therapeutics’ promising clinical results and strategic initiatives. The updated Phase 1 results for ALLO-316, presented at ASCO 2025, showed encouraging outcomes in heavily pretreated RCC patients, highlighting the effectiveness of the Dagger technology. This technology enhances AlloCAR T cells by targeting CD70-positive cells while preventing fratricide, resulting in a 31% confirmed overall response rate in CD70+ patients, with some responses lasting over a year.
Additionally, the safety profile of ALLO-316 is favorable, with no severe CRS or ICANS events reported at the tested dose level. Allogene’s strategic cost-realignment efforts to focus on high-impact programs, such as the clinical advancement of cema-cel and ALLO-329, further support the Buy rating. Upcoming catalysts, including trials for ALLO-329 in autoimmune diseases and lymphodepletion analysis in the ALPHA3 trial, offer potential for future growth. The valuation, based on a discounted cash flow model, supports a price target of $8 per share, despite inherent risks such as durability of effect and manufacturing challenges.
In another report released on May 23, Canaccord Genuity also maintained a Buy rating on the stock with a $14.00 price target.