Allakos Inc. (ALLK) closed at $3.86 in the latest trading session, marking a -1.03% move from the prior day. This change lagged the S&P 500's 2.48% gain on the day. Elsewhere, the Dow gained 1.85%, while the tech-heavy Nasdaq lost 0.09%.
Heading into today, shares of the company had lost 31.22% over the past month, lagging the Medical sector's loss of 4.76% and the S&P 500's loss of 7.81% in that time.
Investors will be hoping for strength from Allakos Inc. as it approaches its next earnings release. The company is expected to report EPS of -$1.71, down 64.42% from the prior-year quarter.
Any recent changes to analyst estimates for Allakos Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.65% lower within the past month. Allakos Inc. is currently a Zacks Rank #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 143, putting it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ALLK in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Allakos Inc. (ALLK) : Free Stock Analysis Report
To read this article on Zacks.com click here.