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, "We report on the first three patients treated with allogeneic CD19 CAR-T in the autoimmune setting published earlier today in the journal Cell by researchers from several Chinese academic institutions. Data were presented in one myopathy and two sclerosis pts and observed disease improvement including lung and skin fibrosis in the two sclerosis pts and the myopathy pt was able to regain muscle strength. We think this bodes well for Allogene and look for future publications to help inform us on the efficacy that we might expect to see with ALLO-329 which enters 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 $2.98 yesterday.

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