Alumis (NASDAQ:ALMS) Rating Increased to Strong-Buy at Baird R W

Alumis (NASDAQ:ALMS) was upgraded by stock analysts at Baird R W to a “strong-buy” rating in a research report issued on Thursday, Zacks.com reports.

ALMS has been the topic of a number of other reports. Leerink Partners started coverage on Alumis in a research report on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Alumis in a research report on Monday, August 19th. HC Wainwright started coverage on Alumis in a research report on Thursday, October 17th. They set a “buy” rating and a $30.00 price objective on the stock. Robert W. Baird started coverage on Alumis in a research report on Thursday. They set an “outperform” rating and a $25.00 price objective on the stock. Finally, Leerink Partnrs upgraded Alumis to a “strong-buy” rating in a research report on Tuesday, July 23rd. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $27.50.

Alumis Price Performance

Shares of Alumis stock opened at $11.32 on Thursday. The company’s 50 day moving average price is $11.51. Alumis has a 12 month low of $9.54 and a 12 month high of $13.53.

Alumis (NASDAQ:ALMS) last announced its quarterly 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). Research analysts predict that Alumis will post -6.86 earnings per share for the current year.

Institutional Investors Weigh In On Alumis

Several hedge funds and other institutional investors have recently modified their holdings of the business. SR One Capital Management LP purchased a new position in Alumis during the 2nd quarter worth $26,067,000. Yu Fan purchased a new position in Alumis during the 2nd quarter worth $10,502,000. Ally Bridge Group NY LLC purchased a new position in Alumis during the 2nd quarter worth $8,229,000. Towerview LLC purchased a new position in Alumis during the 2nd quarter worth $4,123,000. Finally, Millennium Management LLC purchased a new position in Alumis during the 2nd quarter worth $3,376,000.

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.