Leerink Partnrs Has Weak Estimate for Alumis FY2024 Earnings

Alumis Inc. (NASDAQ:ALMS - Free Report) - Stock analysts at Leerink Partnrs reduced their FY2024 EPS estimates for shares of Alumis in a research report issued on Wednesday, November 13th. Leerink Partnrs analyst T. Smith now expects that the company will post earnings of ($9.55) per share for the year, down from their previous estimate of ($8.13). Leerink Partnrs currently 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 equities research analysts also recently commented on the stock. Robert W. Baird began coverage on shares of Alumis in a research note on Thursday, October 31st. They issued an "outperform" rating and a $25.00 target price for the company. Leerink Partners initiated coverage on shares of Alumis in a report on Tuesday, July 23rd. They issued an "outperform" rating and a $29.00 price objective on the stock. HC Wainwright dropped their target price on Alumis from $30.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday. Cantor Fitzgerald reissued an "overweight" rating on shares of Alumis in a research report on Thursday. Finally, Guggenheim started coverage on Alumis in a research note on Tuesday, July 23rd. They set a "buy" rating and a $32.00 target price for the company. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Alumis presently has an average rating of "Buy" and an average price target of $26.83.

Alumis Trading Down 2.4 %

NASDAQ ALMS traded down $0.21 on Monday, reaching $8.64. The company had a trading volume of 91,172 shares, compared to its average volume of 151,026. The company has a 50 day moving average of $11.22. Alumis has a 52 week low of $8.23 and a 52 week high of $13.53.

Hedge Funds Weigh In On Alumis

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets acquired a new position in shares of Alumis during the 3rd quarter worth $27,000. MetLife Investment Management LLC acquired a new stake in shares of Alumis in the third quarter valued at about $89,000. Barclays PLC acquired a new stake in Alumis during the 3rd quarter valued at approximately $197,000. Maven Securities LTD acquired a new position in Alumis in the second quarter valued at $332,000. Finally, State Street Corp acquired a new position in shares of Alumis in the 3rd quarter valued at about $866,000.

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.