B. Riley Increases Q3 2023 Earnings Estimates for Allogene Therapeutics
August 15, 2023
🌥️Trending News
B. Riley’s equities research analysts have recently revised their Q3 2023 earnings estimates for Allogene Therapeutics ($NASDAQ:ALLO), a clinical-stage biotechnology company focused on developing allogeneic CAR T cell therapies for cancer treatment. This revision marks an increase in the estimated earnings of the company, suggesting a positive outlook for the future. Allogene Therapeutics is a leader in the cell and gene therapy industry, as it works to develop CAR T cell therapies for cancers that are difficult to treat. Through their innovative and groundbreaking approach to developing cancer therapies, Allogene Therapeutics seeks to provide new treatments for patients with high unmet medical needs.
The company is actively involved in clinical trials, and has several therapies in development. The recent revision of Q3 2023 earnings estimates for the company is seen as a sign of optimism for the prospects of these therapies.
Earnings
B. Riley recently increased its Q3 2023 earnings estimates for Allogene Therapeutics following its latest earning report of FY2023 Q2 ending June 30 2021. According to the report, Allogene Therapeutics earned 0.04M USD in total revenue and despite this, lost 70.94M USD in net income, which resulted in a 55.6% decrease from the previous year. Over the last 3 years, Allogene Therapeutics’s total revenue has remained at 0.04M USD. This is a testament to the fact that despite the losses, Allogene Therapeutics has remained consistent with their total revenues.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Allogene Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 0.19 | -354.69 | -184733.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Allogene Therapeutics. More…
| Operations | Investing | Financing |
| -238.25 | 204.6 | 92.37 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Allogene Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 770.97 | 148.06 | 4.27 |
Key Ratios Snapshot
Some of the financial key ratios for Allogene Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | -186693.2% |
| FCF Margin | ROE | ROA |
| -125773.4% | -36.9% | -29.1% |
Share Price
On Tuesday, Allogene Therapeutics (ALLO) saw a significant increase in its stock price, opening at $4.3 and closing at $4.5, up by 4.9% from the previous closing price of 4.2. This increase in earnings estimates for Allogene Therapeutics is largely due to the continued progress of their pipeline, which includes a number of promising immuno-oncology therapies currently in clinical trials. Given the strong performance of Allogene Therapeutics and the bullish outlook from B. Riley, it is likely that the stock will continue to rise in the near future. Live Quote…
Analysis
GoodWhale recently conducted an analysis of ALLOGENE THERAPEUTICS‘s wellbeing. Based on our Risk Rating, ALLOGENE THERAPEUTICS is a medium risk investment in terms of both its financial and business aspects. Upon further in-depth review, GoodWhale detected 3 risk warnings in ALLOGENE THERAPEUTICS’s balance sheet, cashflow statement, and financial journal. We invite you to become a registered user to learn more about our detailed findings. More…
Peers
Allogene Therapeutics Inc is a clinical-stage biopharmaceutical company, engaged in the development of allogeneic CAR T cell therapies for the treatment of cancer. Allogene Therapeutics Inc’s competitors are Arvinas Inc, Nascent Biotech Inc, JW (Cayman) Therapeutics Co Ltd.
– Arvinas Inc ($NASDAQ:ARVN)
Arvinas Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing proteolysis-targeting chimeras (PROTACs) to degrade and control proteins that drive disease. Arvinas has a market cap of 2.29B as of 2022 and a Return on Equity of -32.37%. The company’s lead product candidate, ARV-110, is in clinical development for the treatment of metastatic castration-resistant prostate cancer (mCRPC). Arvinas is also developing ARV-471 for the treatment of HER2-positive breast cancer and ARV-825 for the treatment of urothelial cancer.
– Nascent Biotech Inc ($OTCPK:NBIO)
Nascent Biotech Inc is a clinical-stage biopharmaceutical company with a focus on developing monoclonal antibodies to treat various cancers. The company’s market cap is 26.93M as of 2022 and its ROE is 55.87%. Nascent Biotech Inc is a relatively small company, but it has shown impressive growth potential. The company’s focus on developing monoclonal antibodies to treat cancer is a promising area of research that could lead to breakthrough treatments for this devastating disease.
– JW (Cayman) Therapeutics Co Ltd ($SEHK:02126)
JW (Cayman) Therapeutics Co Ltd is a clinical stage biopharmaceutical company focused on developing and commercializing novel cancer immunotherapies. The company’s lead product candidate, JTX-2011, is a first-in-class, off-the-shelf, multi-antigen targeted T cell therapy being evaluated in a Phase 1/2 clinical trial for the treatment of solid tumors. JW (Cayman) Therapeutics Co Ltd has a market cap of 1.32B as of 2022, a Return on Equity of -19.61%.
Summary
Investment analysts at B. Riley recently upgraded their earnings estimates for Allogene Therapeutics for the third quarter of 2023. Following the news, the stock price of Allogene Therapeutics moved up, indicating investor confidence in the company’s outlook. Allogene Therapeutics is a biotechnology company focused on developing engineered cell therapies for treating cancer and other diseases. The company has developed a pipeline of off-the-shelf CAR-T cell therapies that are designed to reduce manufacturing complexity, accelerate timelines, and reduce costs when compared to current cell therapies.
Allogene is also researching immuno-oncology therapies that target both cancer cells and the tumor microenvironment. With promising technologies and promising partnerships, Allogene Therapeutics is one to watch in the coming years.
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