Allogene Therapeutics price target raised to $8 from $5 at Citizens

Citizens raised the firm’s price target on Allogene Therapeutics (ALLO) to $8 from $5 and keeps an Outperform rating on the shares. Allogene’s data from the planned interim futility analysis for the pivotal Phase 3 Alpha3 trial of cema-cel in 1L consolidation Large B-Cell Lymphoma, with 58.3% of patients in the cema-cel arm achieving MRD negativity vs. 16.7% in the observation arm, bodes well for the company, as MRD-negative patients are less likely to relapse, setting the stage for an interim-EFS analysis in mid-2027, the analyst tells investors in a research note.