Piper Sandler Reiterates Overweight Rating on Allogene (ALLO)

Piper Sandler analyst Biren Amin reiterated an Overweight rating and $11.00 price target on Allogene (NASDAQ: ALLO).

The analyst commented, "There's significant investor interest around CAR-Ts in autoimmune, and there were several datasets (CABA and KYTX) at EULAR which were presented on Friday that received a lukewarm reception from investors. However, we also had an oral presentation from the academic Schett Lab on Saturday at EHA that continued to show strong data across lupus and other two other autoimmune indications. Longer-term, we think ALLO could differentiate on clinical durability and reduced lymphodepletion with its ALLO-329, the first CD19/CD70 dual targeted CAR-T, for autoimmune disease that is planned to start Phase 1 in 1H '25."

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 $2.35 yesterday.

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