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Allogene Therapeutics (ALLO) Up 9.6% 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 9.6% in that time frame, outperforming 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 its most recent earnings report in order to get a better handle on the important drivers.

Allogene’s Q2 Earnings Top, Sales Lag

Allogene incurred loss of 53 cents per share in second-quarter 2021, narrower than the Zacks Consensus Estimate of a loss of 55 cents. The bottom line was flat year over year.

The company recorded revenues of $0.04 million during the quarter, missing the Zacks Consensus Estimate of $0.95 million. The company did not record any revenues in the year-ago quarter.

Quarter in Detail

Research & development (R&D) expenses were $52.3 million, up 10.6% from the year-ago quarter.

General and administrative (G&A) expenses increased 18.4% year over year to $18.8 million.

The company had $913.2 million in cash, cash equivalents and investments as of Jun 30, 2021, compared with $964.2 million at the end of Mar 31, 2021.

2021 Guidance Maintained

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

How Have Estimates Been Moving Since Then?

It turns out, estimates revision have trended upward during the past month.

VGM Scores

At this time, Allogene Therapeutics has an average Growth Score of C, a grade with the same score on the momentum front. However, the stock was allocated a grade of F on the value side, putting it in the bottom 20% 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 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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