Citizens JMP analyst Reni Benjamin upgraded Allogene Therapeutics (ALLO) to Outperform from Market Perform with a $5 price target The firm says recent data increases its conviction surrounding ALPHA3’s probability of clinical and statistical success. It attributes $1B of risk-adjusted sales for cema-cel at peak by 2033. With the ALPHA3 trial on track for a mid-2025 futility assessment, ALLO-329 being evaluated in autoimmune disease with cyclophosphamide alone or no lymphodepletion regimen, and a “strong” cash position of $373M, Allogene shares as an attractive investment opportunity, the analyst tells investors in a research note.
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Read More on ALLO:
- Promising Developments in Allogene Therapeutics’ Cema-cel Therapy Highlighted by Phase I Data and Upcoming ALPHA3 Trial
- Promising Potential and Strategic Growth: A Buy Rating for Allogene Therapeutics
- Allogene Therapeutics Reports 2024 Financial Results and Progress
- Allogene Therapeutics reports Q4 EPS (28c), consensus (32c)
- Allogene to invest $37.3M in expanded MRD assay pact with Foresight Diagnostics
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