J.P. Morgan Reports on Allos Therapeutics (ALTH)

In a report released yesterday, J.P. Morgan commented on Allos Therapeutics ALTH. In the report, J.P. Morgan was very positive on the company. J.P. Morgan writes, “Allos' 1Q results had a number of moving parts, some were positive and some were negative. On the positive side, Allos signed a WW partnership with Mundipharma that provides near term capital, longer term upside and regulatory/commercial expertise in Europe as Folotyn moves closer to EU approval. We think this removes a big financing overhang and addresses concerns over Folotyn development constraints. On the negative side, 1Q Folotyn sales missed the street. We're maintaining our Overweight rating but have lowered our PT to $8 from $10 primarily driven by lower Folotyn forecasts.” J.P. Morgan has an Overweight rating on the company and a price target of $8. Shares of ALTH closed the trading day at $2.85, down $0.05 from the opening price.