Jefferies Starts Allogene (ALLO) at Buy

Jefferies analyst Biren Amin initiates coverage on Allogene (NASDAQ: ALLO) with a Buy rating and a price target of $31.00.

The analyst comments "ALLO is developing a deep portfolio of allogeneic CAR-T assets, centered on gene-editing tech and state-of-the-art cell mfr capabilities. ALLO would potentially provide off-the-shelf CAR-T therapies addressing issues with autologous CAR-Ts on undesirable wait time, compromised cell potency, potential for manufacturing failure, and high production cost. In our view, ALLO’s universal CART could be potentially disruptive."

For an analyst ratings summary and ratings history on Allogene click here. For more ratings news on Allogene click here.

Shares of Allogene closed at $27.69 yesterday.

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