Leerink Partnrs Issues Negative Outlook for Alumis Earnings

Alumis Inc. (NASDAQ:ALMS) – Equities researchers at Leerink Partnrs lowered their FY2024 EPS estimates for Alumis in a report issued on Wednesday, November 13th. Leerink Partnrs analyst T. Smith now forecasts that the company will earn ($9.55) per share for the year, down from their prior estimate of ($8.13). Leerink Partnrs has a “Strong-Buy” rating on the stock. The consensus estimate for Alumis’ current full-year earnings is ($7.98) per share. Leerink Partnrs also issued estimates for Alumis’ Q4 2024 earnings at ($1.34) EPS, FY2025 earnings at ($5.19) EPS, FY2026 earnings at ($5.52) EPS, FY2027 earnings at ($6.54) EPS and FY2028 earnings at ($4.04) EPS.

Several other analysts have also recently commented on the stock. Robert W. Baird began coverage on shares of Alumis in a report on Thursday, October 31st. They set an “outperform” rating and a $25.00 price target for the company. Guggenheim assumed coverage on shares of Alumis in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $32.00 price target on the stock. Leerink Partners initiated coverage on Alumis in a research report on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 price objective for the company. HC Wainwright cut their price target on Alumis from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Morgan Stanley began coverage on Alumis in a report on Tuesday, July 23rd. They issued an “overweight” rating and a $36.00 price objective on the stock. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Alumis currently has an average rating of “Buy” and an average price target of $26.83.

Alumis Price Performance

Shares of NASDAQ:ALMS opened at $8.85 on Monday. The company has a 50 day moving average price of $11.22. Alumis has a 52 week low of $8.23 and a 52 week high of $13.53.

Institutional Investors Weigh In On Alumis

Several institutional investors and hedge funds have recently made changes to their positions in ALMS. Towerview LLC acquired a new position in Alumis in the second quarter worth $4,123,000. SR One Capital Management LP acquired a new position in Alumis during the 2nd quarter worth about $26,067,000. Ally Bridge Group NY LLC bought a new stake in Alumis during the 2nd quarter worth about $8,229,000. Yu Fan acquired a new stake in Alumis in the 2nd quarter valued at about $10,502,000. Finally, Millennium Management LLC bought a new position in shares of Alumis in the second quarter worth about $3,376,000.

About Alumis

Our mission is to significantly improve the lives of patients by replacing broad immunosuppression with targeted therapies. Our name, Alumis, captures our mission to enlighten immunology, and is inspired by the words “allumer”-French for illuminate-and “immunis”-Latin for the immune system. We are a clinical stage biopharmaceutical company with an initial focus on developing our two Tyrosine Kinase 2 (TYK2) inhibitors: ESK-001, a second-generation inhibitor that we are developing to maximize target inhibition and optimize tolerability, and A-005, a central nervous system (CNS) penetrant molecule.