H.C. Wainwright analyst Mitchell Kapoor reiterated a Buy rating on Alumis Inc. (ALMS – Research Report) today and set a price target of $19.00.
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Mitchell Kapoor’s rating is based on the promising clinical data for Alumis Inc.’s ESK-001, which has shown significant efficacy in treating psoriasis. The recent update from the Phase 2 trial at the American Academy of Dermatology annual meeting highlighted that ESK-001 achieved impressive PASI-100 and PASI-90 scores, outperforming the only commercially available TYK2 inhibitor, SOTYKTU, particularly in long-term efficacy.
Moreover, ESK-001’s potential to capture market share from both existing TYK2 inhibitors and biologics like SKYRIZI further strengthens its market position. The oral formulation of ESK-001 offers a compelling alternative to injectable treatments, making it an attractive option for patients. These factors collectively support Kapoor’s Buy rating and the 12-month price target of $19.
According to TipRanks, Kapoor is an analyst with an average return of -20.1% and a 29.57% success rate. Kapoor covers the Healthcare sector, focusing on stocks such as Halozyme, Sarepta Therapeutics, and Summit Therapeutics.