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Allogene Therapeutics (ALLO) Up 3% Since Last Earnings Report: Can It Continue?

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It has been about a month since the last earnings report for Allogene Therapeutics (ALLO). Shares have added about 3% in that time frame, underperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Allogene Therapeutics due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.

Allogene’s Q4 Earnings Top Estimates

Allogene incurred loss of 53 cents per share in fourth-quarter 2020, narrower than the Zacks Consensus Estimate of 56 cents as well as the year-ago quarter’s loss of 58 cents.

With no marketed products, the company did not record any revenues during the quarter.

Quarter in Detail

Research & development (R&D) expenses were $52.2 million, up 5.8% from the year-ago quarter.

General and administrative (G&A) expenses increased 12.6% year over year to $17.1 million.

The company had $1 billion in cash, cash equivalents and investments as of Dec 31, 2020, same as at the end of Sep 30, 2020.

Full-Year Results

Allogene did not report any revenues for the full year. The company incurred loss of $2.08 per share for 2020, wider than loss of $1.83 in the year-ago period.

2021 Guidance

Allogene issued its guidance for operating expenses in 2021, which is expected to be between $300 million and $330 million.

How Have Estimates Been Moving Since Then?

In the past month, investors have witnessed an upward trend in estimates review. The consensus estimate has shifted 13.1% due to these changes.

VGM Scores

Currently, Allogene Therapeutics has an average Growth Score of C, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of F on the value side, putting it in the lowest quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Allogene Therapeutics has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.


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