Oppenheimer Reiterates Buy Rating on Allogene Therapeutics with $7 Price Target

Oppenheimer analyst Matthew Biegler maintains a Buy rating on Allogene Therapeutics with a price target of $7.00. The company's shares closed at $1.04. Biegler has an average return of -11.5% and a 31.75% success rate, covering the Healthcare sector. The analyst consensus is Moderate Buy with a price target consensus of $7.44, implying a 615.38% upside from current levels.

Allogene Therapeutics, Inc. (Nasdaq: ALLO), a clinical-stage biotechnology company pioneering the development of allogeneic CAR T (AlloCAR T™) products for cancer and autoimmune disease, has provided corporate updates and reported financial results for the quarter ended June 30, 2025. The company announced significant progress in its clinical trials and financial performance during the second quarter.

Clinical Trial Updates

1. ALPHA3 Trial: The pivotal Phase 2 ALPHA3 trial with cemacabtagene ansegedleucel (Cema-Cel) in first-line (1L) consolidation in large B-cell lymphoma (LBCL) is proceeding as a two-arm randomized trial comparing Cema-cel after standard fludarabine and cyclophosphamide (FC) lymphodepletion versus observation. Over 50 sites are activated across the U.S. and Canada, with additional international expansion underway. The futility analysis is scheduled to occur in the first half of 2026.

2. ALLO-329 Trial: The Phase 1 RESOLUTION basket trial in rheumatology launched in the second quarter of 2025, evaluating CAR T therapy across multiple autoimmune conditions. The first clinical update, including biomarker data and proof-of-concept data, is expected in the first half of 2026.

3. ALLO-316 Trial: The Phase 1 TRAVERSE trial with ALLO-316 in renal cell carcinoma (RCC) has completed enrollment in the Phase 1b cohort. Updated Phase 1b cohort data were presented at the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting, highlighting clinical responses and the potential of the Dagger® technology platform to drive robust expansion and persistence of Allogeneic CAR T cells. The company has aligned with the FDA on the design of a pivotal trial for ALLO-316.

Financial Results

For the second quarter of 2025, research and development expenses were $40.2 million, including $2.6 million of non-cash stock-based compensation expense. General and administrative expenses were $14.3 million, including $6.1 million of non-cash stock-based compensation expense. The net loss for the second quarter of 2025 was $50.9 million, or $0.23 per share, including non-cash stock-based compensation expense of $8.7 million and non-cash impairment of long-lived asset expense of $2.4 million. As of June 30, 2025, the company had $302.6 million in cash, cash equivalents, and investments, with a cash runway projected into the second half of 2027.

Analyst Ratings

Oppenheimer analyst Matthew Biegler maintains a Buy rating on Allogene Therapeutics with a price target of $7.00. The company's shares closed at $1.04. The analyst consensus is a Moderate Buy with a price target consensus of $7.44, implying a 615.38% upside from current levels.

Conference Call and Webcast

Allogene will host a live conference call and webcast today at 2:00 p.m. PT/5:00 p.m. ET to discuss financial results and provide a business update. The listen-only webcast will be made available on the Company's website at www.allogene.com under the Investors tab in the News and Events section.

References

[1] https://www.biospace.com/press-releases/allogene-therapeutics-reports-second-quarter-2025-financial-results-and-business-update