JMP Securities downgraded Allakos (ALLK) to Market Perform from Outperform without a price target after the company’s Phase 1 clinical trial of AK006 in chronic spontaneous urticaria did not yield to clinical benefit. Allakos decided to discontinue further clinical development of AK006.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALLK:
- Piper downgrades Allakos to Neutral with only asset discontinued
- Allakos downgraded to Neutral from Overweight at Piper Sandler
- Allakos to discontinue further clinical development of AK006, cut workforce 75%
- Allakos Restructures Amid AK006 Program Discontinuation
- Allakos Restructures Amid AK006 Discontinuation and Layoffs