Leerink Partners analyst Thomas Smith has reiterated their bullish stance on ALMS stock, giving a Buy rating on July 25.
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Thomas Smith has given his Buy rating due to a combination of factors surrounding Alumis Inc.’s promising developments and strategic advancements. The completion of enrollment in the Phase 2b LUMUS trial for their lead asset, ESK-001, in systemic lupus erythematosus (SLE) marks a significant milestone, with topline data expected in the third quarter of 2026. This trial is pivotal as it could potentially serve as the first of two necessary trials for regulatory approval, with the possibility of an accelerated pathway.
Additionally, the positive data from similar TYK2 inhibitors, such as BMY’s Sotyktu, enhance confidence in ESK-001’s potential efficacy. Alumis Inc. is also advancing ESK-001 in a Phase 3 program for plaque psoriasis, with results anticipated in early 2026, and planning a Phase 2 trial of A-005 for multiple sclerosis. These developments, combined with the potential of ESK-001 as a best-in-class oral TYK2 inhibitor and the promising prospects of A-005, underscore the Buy rating.
According to TipRanks, Smith is a top 100 analyst with an average return of 45.7% and a 53.35% success rate. Smith covers the Healthcare sector, focusing on stocks such as Disc Medicine, Sagimet Biosciences, Inc. Class A, and Madrigal Pharmaceuticals.
In another report released on July 25, H.C. Wainwright also reiterated a Buy rating on the stock with a $14.00 price target.