Oppenheimer starts Allogene with Outperform rating, $45 price target. Oppenheimer analyst Mark Breidenbach initiated coverage of Allogene Therapeutics with an Outperform rating and $45 price target. The company is developing allogeneic products which could address “significant” issues surrounding today’s autologous CARTs including manufacturing bandwidth, cost and consistency, Breidenbach tells investors in a research note. He believes Allogene has the wherewithal to make off-the-shelf CAR-Ts a “commercial reality” and points out it has “multiple de-risking data readouts” over the next 12-18 months.
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