U.S. markets closed
  • S&P 500

    3,768.25
    -27.29 (-0.72%)
     
  • Dow 30

    30,814.26
    -177.24 (-0.57%)
     
  • Nasdaq

    12,998.50
    -114.10 (-0.87%)
     
  • Russell 2000

    2,123.20
    -32.15 (-1.49%)
     
  • Crude Oil

    52.04
    -1.53 (-2.86%)
     
  • Gold

    1,827.70
    -23.70 (-1.28%)
     
  • Silver

    24.83
    -0.97 (-3.77%)
     
  • EUR/USD

    1.2085
    -0.0071 (-0.58%)
     
  • 10-Yr Bond

    1.0970
    -0.0320 (-2.83%)
     
  • GBP/USD

    1.3591
    -0.0100 (-0.73%)
     
  • USD/JPY

    103.7250
    -0.0910 (-0.09%)
     
  • BTC-USD

    35,676.28
    +675.61 (+1.93%)
     
  • CMC Crypto 200

    701.93
    -33.21 (-4.52%)
     
  • FTSE 100

    6,735.71
    -66.25 (-0.97%)
     
  • Nikkei 225

    28,519.18
    -179.12 (-0.62%)
     

How Allogene (ALLO) Stock Stands Out in a Strong Industry

Zacks Equity Research
·2 min read

One stock that might be an intriguing choice for investors right now is Allogene Therapeutics, Inc. ALLO. This is because this security in the Medical - Biomedical and Genetics space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective. 

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Medical - Biomedical and Genetics space as it currently has a Zacks Industry Rank of 11 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there. 

Meanwhile, Allogene is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term. 

Allogene Therapeutics Inc Price and Consensus

Allogene Therapeutics Inc Price and Consensus
Allogene Therapeutics Inc Price and Consensus

Allogene Therapeutics Inc price-consensus-chart | Allogene Therapeutics Inc Quote

In fact, over the past month, current quarter estimates have narrowed from a loss of 59 cents per share to a loss of 57 cents per share, while current year estimates have narrowed from a loss of $2.50 per share to a loss of $2.30 per share. This has helped ALLO to earn a Zacks Rank #2 (Buy), further underscoring the company’s solid position. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 

So, if you are looking for a decent pick in a strong industry, consider Allogene. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

More Stock News: This Is Bigger than the iPhone!                   

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market. 

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.  

Click here for the 6 trades >>


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
 
Allogene Therapeutics Inc (ALLO) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research