HC Wainwright Reaffirms Buy Rating for Alumis (NASDAQ:ALMS)

Alumis (NASDAQ:ALMS)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They currently have a $15.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 275.00% from the stock’s current price. HC Wainwright also issued estimates for Alumis’ Q1 2025 earnings at ($1.29) EPS, Q2 2025 earnings at ($1.00) EPS, Q3 2025 earnings at ($1.01) EPS, Q4 2025 earnings at ($1.01) EPS and FY2025 earnings at ($4.26) EPS.

A number of other brokerages have also weighed in on ALMS. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a research note on Thursday, March 20th. Oppenheimer assumed coverage on shares of Alumis in a research report on Thursday, January 30th. They issued an “outperform” rating and a $32.00 price objective on the stock. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $26.00.

Alumis Trading Up 5.8 %

ALMS stock opened at $4.00 on Wednesday. The business’s 50-day moving average price is $5.55 and its two-hundred day moving average price is $8.43. Alumis has a 1-year low of $3.18 and a 1-year high of $13.53.

Institutional Investors Weigh In On Alumis

A number of institutional investors and hedge funds have recently modified their holdings of ALMS. BNP Paribas Financial Markets acquired a new position in Alumis during the third quarter worth approximately $27,000. Wells Fargo & Company MN grew its stake in shares of Alumis by 77.1% in the fourth quarter. Wells Fargo & Company MN now owns 8,779 shares of the company’s stock valued at $69,000 after acquiring an additional 3,823 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in shares of Alumis during the fourth quarter worth approximately $79,000. MetLife Investment Management LLC acquired a new position in Alumis in the 3rd quarter valued at $89,000. Finally, Marshall Wace LLP bought a new stake in Alumis during the fourth quarter worth about $108,000.

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.