Allakos Inc Down 9.17% To $1.64 After Earnings Miss

Allakos Inc (ALLK) missed earnings projections on 11/13/2023 for Q3 2023.

Allakos Inc's earnings came in at an EPS loss of $0.52 per share, 16% lower than estimates for an EPS loss of $0.45 per share. The firm's loss per share narrowed by 2% since reporting a loss of $0.53 per share a year ago.

Allakos Inc Q3 2023 revenue came in at $0.00. The company achieved 0% growth year-over-year compared to the firm's revenue of $0.00 from the year-ago quarter. The lower earnings growth relative to revenue signals Allakos Inc has not been able to improve its profit margin.

The stock is down 9.17% to $1.64 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Allakos Inc a Neutral Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 38. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Allakos Inc is a clinical-stage company developing therapeutic antibodies that selectively target immunomodulatory receptors present on the surface of immune effector cells involved in allergic, inflammatory, and proliferative diseases. The company's lead program, AK002, an antibody that targets Siglec-8, an inhibitory receptor found on eosinophils and mast cells. In preclinical and clinical studies, AK002 has been shown to deplete eosinophils and inhibit mast cells.