Citizens Upgrades Allogene (ALLO) to Market Outperform

Citizens analyst Reni Benjamin upgraded Allogene (NASDAQ: ALLO) from Market Perform to Market Outperform with a price target of $5.00.

The analyst comments: "We are upgrading Allogene shares to Market Outperform with a price target of $5 based on a discounted EPS and revenue multiple analysis. In addition to data published in JCO demonstrating CR rates of 42% overall and 100% and 82% in two patient subgroups, the company provided guidance that the interim futility analysis of MRD clearance would occur in early 2Q26, which bolsters our confidence not only in enrollment timelines, but also in ALPHA3's probability of clinical and statistical success. Based on our estimates, we attribute ~$1B of risk- adjusted sales for cema-cel at peak by 2033. With the ALPHA3 trial on track for a 2Q26 futility assessment, ALLO-329 being evaluated in AID with cyclophosphamide- alone or no lymphodepletion regimen (data expected late 1H26), and a strong cash position of $256MM (pro forma), we view Allogene shares as an attractive investment opportunity, with an ~32% downside (bear case $1) and an ~373% upside (bull case $7)"

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 $1.49 yesterday.

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