William Blair analyst Sami Corwin has maintained their bullish stance on ALLO stock, giving a Buy rating today.
Sami Corwin’s rating is based on several promising developments surrounding Allogene Therapeutics’ cema-cel (ALLO-501) therapy. The publication of Phase I ALPHA and ALPHA 2 study data in the Journal of Clinical Oncology highlights the therapy’s potential to achieve deep and durable responses in patients with low tumor burden, which is a positive indicator for its efficacy. Additionally, the use of ALLO-647 in the treatment regimen appears to enhance these responses without significantly increasing the risk of severe infections, further supporting the therapy’s safety profile.
Furthermore, the upcoming ALPHA3 trial is seen as a critical milestone for Allogene. The selection of the lymphodepletion regimen in mid-2025 is anticipated to be a key catalyst, as it will provide a futility analysis comparing cema-cel to standard-of-care treatments. This event is expected to significantly de-risk the ongoing trial and potentially position cema-cel as a leading option in the competitive landscape of CD19 CAR-T therapies. The rapid activation of trial sites also suggests strong momentum and commitment to advancing this promising therapy.
In another report released today, JMP Securities also upgraded the stock to a Buy with a $5.00 price target.