Alumis initiated with a Buy at H.C. Wainwright

H.C. Wainwright analyst Mitchell Kapoor initiated coverage of Alumis with a Buy rating and $30 price target Alumis is a clinical-stage biopharmaceutical company developing oral therapies for immune-mediated diseases, the analyst tells investors in a research note. The firm believes ESK-001 could even significantly catalyze the growth of the TYK2 market, expanding market share for the TYK2 class in large indications.