Oppenheimer analyst Jeff Jones raised the firm’s price target on Alumis (ALMS) to $50 from $25 and keeps an Outperform rating on the shares after the company reported positive results from the pivotal ONWARD trial of envudeucitinib. The firm sees Alumis agent “as highly competitive and potentially superior to icotrokinra on some endpoints,” the analyst tells investors.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALMS:
- Midday Fly By: Nvidia launches Rubin platform, Vistra to acquire Cogentrix
- Alumis price target raised to $39 from $17 at Wells Fargo
- Alumis jumps 106% to $17.11 after psoriasis trial hits endpoints
- Alumis Unveils Positive Phase 3 Data for Psoriasis Drug
- Alumis announces Phase 3 trial of envudeucitinib met all primary endpoints