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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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
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