Alumis' Investigational Lead Candidate Supports Superior Profile Than Bristol Myers' Commercialized Drug, Analyst Sees 170% Stock Upside
Portfolio Pulse from Vandana Singh
HC Wainwright has initiated coverage on Alumis Inc. (NASDAQ:ALMS) with a Buy rating and a $30 price target, citing its lead drug candidate ESK-001's superior profile over Bristol Myers' Sotyktu. ESK-001 is in Phase 3 trials for psoriasis and Phase 2 for lupus, with potential peak sales of $1.9 billion and $2.0 billion, respectively.

October 17, 2024 | 6:32 pm
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NEGATIVE IMPACT
Bristol Myers' Sotyktu, a leading TYK2 inhibitor, faces competition from Alumis' ESK-001, which is reported to have a superior profile. This could impact Sotyktu's market share despite its current leadership.
Alumis' ESK-001 is reported to have a superior profile compared to Bristol Myers' Sotyktu, which could lead to a loss in market share for Sotyktu, negatively impacting BMY's stock.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 70
NEGATIVE IMPACT
Takeda's TAK-279, a Phase 3 TYK2 inhibitor candidate, is outperformed by Alumis' ESK-001 according to HC Wainwright. This could affect TAK-279's competitive positioning.
Alumis' ESK-001 is reported to outperform Takeda's TAK-279, which could affect TAK-279's competitive positioning and potentially impact Takeda's stock negatively.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
HC Wainwright has initiated coverage on Alumis with a Buy rating and a $30 price target, highlighting ESK-001's superior profile over Bristol Myers' Sotyktu. ESK-001 is in advanced trials for psoriasis and lupus, with potential peak sales of $1.9 billion and $2.0 billion.
The analyst's Buy rating and high price target suggest strong confidence in Alumis' lead candidate ESK-001, which is expected to outperform existing market leaders. This positive outlook is likely to boost ALMS stock in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100