Alumis resumed with a Buy at Guggenheim

Guggenheim analyst Yatin Suneja resumed coverage of Alumis (ALMS) with a Buy rating and $18 price target with the merger with Acelyrin completed. The firm, which highlights the two recent milestones of the announcement of the 52-week Phase 2 OLE data for ESK-001 in psoriasis in March and the completion of Phase 3 ONWARD trials patient enrollment, updated its model to reflect the new share count and cash position post-Acelyrin merger.