Guggenheim Initiates Coverage on Alumis (NASDAQ:ALMS)

Stock analysts at Guggenheim assumed coverage on shares of Alumis (NASDAQ:ALMS) in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $32.00 price target on the stock. Guggenheim’s price objective indicates a potential upside of 149.71% from the stock’s previous close.

Separately, Morgan Stanley assumed coverage on shares of Alumis in a research report on Tuesday. They issued an “overweight” rating and a $36.00 price objective for the company. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $27.50.

Alumis Stock Up 1.7 %

Shares of NASDAQ:ALMS opened at $12.82 on Tuesday. Alumis has a 1 year low of $10.45 and a 1 year 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.