Allakos Inc. (ALLK) Stock Sinks As Market Gains: What You Should Know
Allakos Inc. (ALLK) closed at $4.80 in the latest trading session, marking a -1.64% move from the prior day. This change lagged the S&P 500's 1.61% gain on the day. Meanwhile, the Dow gained 1.45%, and the Nasdaq, a tech-heavy index, added 0.05%.
Coming into today, shares of the company had lost 16.87% in the past month. In that same time, the Medical sector lost 0.95%, while the S&P 500 lost 1.42%.
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 revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.65% lower. Allakos Inc. is currently a Zacks Rank #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 154, which puts it in the bottom 40% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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.
Zacks Investment Research
