Alumis (NASDAQ:ALMS) Upgraded to Strong-Buy at Leerink Partnrs

Leerink Partnrs upgraded shares of Alumis (NASDAQ:ALMS) to a strong-buy rating in a research note issued to investors on Tuesday, Zacks.com reports. Leerink Partnrs also issued estimates for Alumis’ Q2 2024 earnings at ($1.67) EPS, Q3 2024 earnings at ($1.08) EPS, Q4 2024 earnings at ($1.04) EPS, FY2024 earnings at ($4.75) EPS, FY2025 earnings at ($4.64) EPS, FY2026 earnings at ($4.97) EPS, FY2027 earnings at ($6.05) EPS and FY2028 earnings at ($3.49) EPS.

A number of other research analysts have also recently issued reports on the company. Morgan Stanley began coverage on Alumis in a report on Tuesday. They issued an overweight rating and a $36.00 price target for the company. Guggenheim initiated coverage on Alumis in a report on Tuesday. They issued a buy rating and a $32.00 price target for the company. SVB Leerink initiated coverage on Alumis in a report on Tuesday. They set an outperform rating and a $29.00 price objective for the company. Finally, Cantor Fitzgerald assumed coverage on Alumis in a report on Tuesday. They set an overweight rating and a $13.00 price objective for the company. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $27.50.

Alumis Trading Up 0.3 %

Shares of NASDAQ:ALMS opened at $12.85 on Tuesday. Alumis has a 52 week low of $10.45 and a 52 week high of $13.53.

Alumis Company Profile

Our mission is to significantly improve the lives of patients by replacing broad immunosuppression with targeted therapies. Our name, Alumis, captures our mission to enlighten immunology, and is inspired by the words “allumer”-French for illuminate-and “immunis”-Latin for the immune system. We are a clinical stage biopharmaceutical company with an initial focus on developing our two Tyrosine Kinase 2 (TYK2) inhibitors: ESK-001, a second-generation inhibitor that we are developing to maximize target inhibition and optimize tolerability, and A-005, a central nervous system (CNS) penetrant molecule.