Guggenheim analyst Yatin Suneja raised the firm’s price target on Alumis (ALMS) to $32 from $18 and keeps a Buy rating on the shares following the company’s positive Phase 3 ONWARD-1/-2 study results. Takeda (TAK) is also conducting studies in PsA, Vitiligo, and HS, which could pioneer multibillion-dollar opportunity for envudeucitinib given its superior pharmacological properties over Sotyktu and Zasocitinib, as demonstrated by yesterday’s PsO readout, the analyst tells investors.
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