H.C. Wainwright analyst Mitchell Kapoor raised the firm’s price target on Alumis (ALMS) to $20 from $14 and keeps a Buy rating on the shares. The firm views Takeda’s (TAK) topline success for zasocitinib as “a rising tide that validates the blockbuster potential of next-generation TYK2 inhibitors,” but adds that a numerical pullback in PASI-100 efficacy for that agent leaves “the best-in-class lane wide open” for Alumis’ envudeucitinib.
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