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Allogene Therapeutics Inc . (NASDAQ:ALLO) stock has tumbled to a 52-week low, touching a price level of just $1.32. This latest dip underscores a challenging year for the biotechnology company, which has seen its stock value erode by a staggering 66.31% over the past year. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 8.54, though it’s quickly burning through cash. Investors have been grappling with a mix of industry-wide pressures and company-specific hurdles, leading to a significant reevaluation of Allogene’s market position and future prospects. The 52-week low serves as a stark indicator of the market’s current sentiment towards the company’s performance and outlook. Despite current challenges, three analysts have revised their earnings upwards for the upcoming period, with price targets ranging from $3 to $14. For deeper insights into ALLO’s valuation and growth prospects, access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks.
In other recent news, Allogene Therapeutics reported a better-than-expected financial performance for Q4 2024, with an earnings per share (EPS) of -$0.28, surpassing the forecasted -$0.32. The company’s revenue forecast was noted at $11.87 billion, although actual revenue figures were not disclosed. Allogene’s robust cash position, reported at $373 million, supports its ongoing research and development efforts, extending their financial runway into 2026. Analyst updates on Allogene were mixed, with H.C. Wainwright lowering the stock’s price target to $8 while maintaining a Buy rating, and Citi reaffirming a Buy rating with the same price target. Meanwhile, Citizens JMP upgraded the stock rating to Market Outperform with a new price target of $5, citing promising clinical trial results for the ALPHA3 therapy. The company’s ALPHA3 trial, which evaluates cema-cel in large B-cell lymphoma, is closely watched, with a futility analysis expected in mid-2025. Additionally, Allogene’s upcoming milestones include the Phase 1 trial for ALLO-329 in autoimmune diseases, projected to begin mid-2025, with proof-of-concept data anticipated by the end of the year.
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