Stock analysts at HC Wainwright assumed coverage on shares of Alumis (NASDAQ:ALMS - Get Free Report) in a research report issued to clients and investors on Thursday, Briefing.com reports. The firm set a "buy" rating and a $30.00 price target on the stock. HC Wainwright's price objective suggests a potential upside of 168.10% from the stock's previous close.
Several other equities analysts have also issued reports on ALMS. Morgan Stanley started coverage on shares of Alumis in a report on Tuesday, July 23rd. They set an "overweight" rating and a $36.00 price objective on the stock. Leerink Partners initiated coverage on shares of Alumis in a report on Tuesday, July 23rd. They set an "outperform" rating and a $29.00 price objective on the stock. Guggenheim initiated coverage on shares of Alumis in a report on Tuesday, July 23rd. They issued a "buy" rating and a $32.00 price target on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Alumis in a report on Monday, August 19th. Finally, Leerink Partnrs raised shares of Alumis to a "strong-buy" rating in a report on Tuesday, July 23rd. Five 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.com, the stock has an average rating of "Buy" and an average price target of $28.00.
View Our Latest Report on ALMS
Shares of NASDAQ ALMS opened at $11.19 on Thursday. The stock has a 50-day moving average price of $11.66. Alumis has a 1 year low of $9.54 and a 1 year high of $13.53.
Alumis (NASDAQ:ALMS - Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported ($23.10) EPS for the quarter, missing analysts' consensus estimates of ($1.57) by ($21.53). On average, sell-side analysts predict that Alumis will post -6.86 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Maven Securities LTD acquired a new stake in shares of Alumis during the second quarter worth $332,000. Millennium Management LLC acquired a new position in Alumis during the second quarter valued at $3,376,000. Towerview LLC acquired a new position in Alumis during the second quarter valued at $4,123,000. Ally Bridge Group NY LLC acquired a new position in Alumis during the second quarter valued at $8,229,000. Finally, Yu Fan acquired a new position in Alumis during the second quarter valued at $10,502,000.
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.
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