Baird upgrades ‘differentiated story’ Allogene Therapeutics to Outperform

Baird analyst Jack Allen upgraded Allogene Therapeutics to Outperform from Neutral with an unchanged price target of $12. The analyst views the stock’s current valuation as an attractive opportunity to gain exposure to a "differentiated story" in the allogeneic cell therapy space. Allogene’s positive durability results appear differentiated, Allen tells investors in a research note. The analyst sees room for shares to "reserve their downward trend and grind higher in the coming quarters as appreciation for the durability of Allogene’s approach grows."