William Blair analyst Sami Corwin has maintained their bullish stance on ALLO stock, giving a Buy rating yesterday.
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Sami Corwin has given his Buy rating due to a combination of factors that highlight Allogene Therapeutics’ promising pipeline and strategic advancements. The company has initiated the Phase I RESOLUTION basket trial for ALLO-329, targeting autoimmune diseases such as systemic lupus erythematosus and systemic sclerosis. This trial is notable for its innovative approach, including two lymphodepletion arms, and is expected to yield important biomarker and clinical proof-of-concept data by the first half of 2026.
Furthermore, Allogene has achieved regulatory alignment with the FDA on a pivotal trial design for ALLO-316 in renal cell carcinoma (RCC). The agreement allows for a single-arm study focusing on patients who have previously undergone treatment with immune checkpoint and tyrosine kinase inhibitors, with overall response rate as the primary endpoint. This regulatory progress, along with the anticipated results from the ALPHA3 trial’s futility analysis, positions Allogene well for potential partnerships and future growth.
According to TipRanks, Corwin is a 2-star analyst with an average return of 0.2% and a 40.57% success rate. Corwin covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Ultragenyx Pharmaceutical, and PTC Therapeutics.
In another report released yesterday, Oppenheimer also reiterated a Buy rating on the stock with a $7.00 price target.