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Allakos Inc. (ALLK) Outpaces Stock Market Gains: What You Should Know

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Allakos Inc. (ALLK - Free Report) closed at $5.97 in the latest trading session, marking a +1.7% move from the prior day. This change outpaced the S&P 500's 1.13% gain on the day. Elsewhere, the Dow gained 0.74%, while the tech-heavy Nasdaq added 0.87%.

Coming into today, shares of the company had gained 1.91% in the past month. In that same time, the Medical sector gained 5.72%, while the S&P 500 gained 2.65%.

Wall Street will be looking for positivity from Allakos Inc. as it approaches its next earnings report date. On that day, Allakos Inc. is projected to report earnings of -$1.71 per share, which would represent a year-over-year decline of 64.42%.

It is also important to note the recent changes to analyst estimates for Allakos Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.59% lower. Allakos Inc. is holding a Zacks Rank of #3 (Hold) right now.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 37% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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