ALLK - Allakos initiated overweight at Cantor with a street high price target

Cantor Fitzgerald has initiated the coverage of Allakos ([[ALLK]] +2.7%) with an overweight rating. The analyst Emma Nealon highlights the value of the company’s lead product candidate lirentelimab in eosinophil-driven inflammatory diseases.The price target at $218.00 per share implies an ~82.4% upside to the previous close. With a price target ranging from $36 to 204 per share, Allakos has an average target of $122 per share among Wall Street analysts.Lirentelimab is currently undergoing a Phase 3 study in eosinophilic gastritis (“EG”) and/or eosinophilic duodenitis (“EoD”) and a Phase 2/3 study in eosinophilic esophagitis (“EoE”). Data from EG/EoD trial is expected in 2H 2021.Though EG/EoD and EoE were thought to be relatively rare diseases previously, according to new data, EG/EoD indication could be much more prevalent than expected the analyst notes, estimating ~2M patients in the U.S. suffering from the disease with no approved therapies.When the size of the market is

For further details see:

Allakos initiated overweight at Cantor with a street high price target