Alumis initiated with a Buy at Guggenheim on ESK-001 potential

As previously reported, Guggenheim initiated coverage of Alumis with a Buy rating and $32 price target., citing a positive view of its lead asset ESK-001, which is currently in development as a treatment of Plaque Psoriasis, or PsO, and in Systemic lupus Erythematosus, or SLE. ESK-001’s differentiated pharmacological profile and competitive long-term efficacy offers a potential alternative to Sotyktu in PsO, while its involvement of TYK2 across several additional large market immune indications offers an opportunity to build “a pipeline-in-a-product,” the analyst tells investors.