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The latest update is out from Alumis Inc. ( (ALMS) ).
On March 28, 2026, Alumis reported Phase 3 data from its ONWARD1 and ONWARD2 trials showing that envudeucitinib, its oral TYK2 inhibitor, delivered rapid and robust skin clearance and symptom relief in adults with moderate-to-severe plaque psoriasis. By Week 24, PASI 90 rates reached 68.0% and 62.1% and PASI 100 rates 41.0% and 39.5% across the two studies, with quality-of-life gains, itch reduction and scalp psoriasis improvement emerging early, while the safety profile remained favorable and consistent with prior Phase 2 results.
The results, presented at the 2026 American Academy of Dermatology Annual Meeting, support envudeucitinib’s potential to emerge as a leading oral therapy in a market where many patients remain inadequately controlled on existing treatments. Alumis is following patients in the ONWARD3 long-term extension to assess durability and long-term safety and expects the Phase 3 data package to underpin a planned U.S. regulatory filing later in 2026, a step that could strengthen its positioning in the competitive psoriasis and broader immune-mediated disease landscape.
The most recent analyst rating on (ALMS) stock is a Buy with a $38.00 price target. To see the full list of analyst forecasts on Alumis Inc. stock, see the ALMS Stock Forecast page.
Spark’s Take on ALMS Stock
According to Spark, TipRanks’ AI Analyst, ALMS is a Neutral.
The score is held down primarily by weak financial performance (large, worsening losses and heavy cash burn). Technicals are mixed with a longer-term uptrend but softer near-term momentum, while valuation lacks earnings support. Recent corporate events provide meaningful positives (Phase 3 results and added funding capacity) but are tempered by dilution and legal uncertainty.
To see Spark’s full report on ALMS stock, click here.
More about Alumis Inc.
Alumis Inc., based in South San Francisco, is a late-stage biopharmaceutical company focused on developing next-generation targeted therapies for immune-mediated diseases. Its pipeline centers on oral tyrosine kinase 2 (TYK2) inhibitors, led by envudeucitinib for moderate-to-severe plaque psoriasis and systemic lupus erythematosus, targeting patients who need more effective and durable oral treatment options.
Leveraging a proprietary data analytics and precision-medicine approach, Alumis aims to correct immune dysregulation across IL-23, IL-17 and Type I interferon-driven conditions. The company positions envudeucitinib as a differentiated, highly selective allosteric TYK2 inhibitor designed for sustained 24-hour target inhibition while minimizing off-target effects in high-burden immune-mediated diseases.
Average Trading Volume: 3,047,885
Technical Sentiment Signal: Strong Buy
Current Market Cap: $3.15B
See more data about ALMS stock on TipRanks’ Stock Analysis page.