Barclays analyst Carter Gould initiated coverage of Allakos with an Underweight rating and $36 price target. At current levels, the stock prices in a high-level of commercial and clinical success, despite what Gould sees as "pertinent questions" on the size of the company's target markets and competition in its largest one, eosinophilic esophagitis, he said. The analyst initiated coverage of the U.S. Biopharmaceuticals industry with a Positive view citing waning near-term concerns on drug pricing reform, evidence of innovation and attractive valuations.