Investing.com - H.C. Wainwright lowered its price target on Alumis Inc (NASDAQ:ALMS) to $25 from $40 while maintaining a Buy rating on Monday. The stock currently trades at $24.80 with a market cap of $3.15 billion, though InvestingPro analysis suggests the shares may be overvalued relative to its Fair Value estimate.

The firm adjusted its assumptions following data presented at the American Academy of Dermatology annual meeting in Denver, Colorado. The analyst reduced pricing assumptions for envudeucitinib and lowered peak psoriasis market penetration estimates to reflect increased competition in the oral treatment segment.

H.C. Wainwright cited Johnson & Johnson’s icotrokinra as holding the strongest commercial position given its approval and direct superiority versus Sotyktu. Takeda’s zasocitinib was identified as a compelling TYK2 inhibitor with once-daily dosing, no fasting restrictions, and strong clear-skin rates.

The firm said envudeucitinib remains comparable to zasocitinib on efficacy but faces pricing pressure from competing with a once-daily TYK2 inhibitor and an approved oral IL-23 inhibitor peptide. The analysis incorporated recent dilution and rolled the model forward.

H.C. Wainwright adjusted its discount rate to 11% from 12%, stating that psoriasis datasets from Alumis and Takeda validate the oral TYK2 class and should reduce physician skepticism.Despite the reduced price target, Alumis shares have delivered remarkable returns of 340% over the past year. InvestingPro Tips highlight that while the company holds more cash than debt on its balance sheet, analysts don’t anticipate profitability this year. For investors seeking deeper insights, InvestingPro offers 10 additional exclusive tips on ALMS.

In other recent news, Alumis Inc. has announced the results from two Phase 3 clinical trials evaluating envudeucitinib for moderate-to-severe plaque psoriasis. The trials, ONWARD1 and ONWARD2, involved over 1,700 patients and the data was presented at the 2026 American Academy of Dermatology Annual Meeting. Alongside these developments, Raymond James has initiated coverage on Alumis with a Strong Buy rating, highlighting the potential of envudeucitinib to capture market share in non-biologic treatments for psoriasis. Stifel also began coverage with a Buy rating, emphasizing the potential of next-generation TYK2 inhibitors. Chardan Capital Markets joined in with a Buy rating, noting that envudeucitinib achieved all primary and secondary endpoints in the Phase 3 trials. Alumis plans to submit a New Drug Application for envudeucitinib in the second half of 2026. These recent developments underscore the growing interest and optimism around Alumis’s lead asset in the treatment of plaque psoriasis.

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Investing.com - Stifel maintained a Hold rating and $3.00 price target on Neumora Therapeutics (NASDAQ:NMRA) following the company’s fourth-quarter 2025 report. The stock currently trades at $2.05 with a market cap of $396 million, and according to InvestingPro analysis, appears undervalued relative to its Fair Value. Despite recent setbacks, shares have delivered a remarkable 126% return over the past year, though InvestingPro Tips highlight that the company is quickly burning through cash—a key consideration given the clinical trial delays.

The firm noted that phase 2 initiation for Neumora’s NLRP3 program is now scheduled for the first quarter of 2027, compared to the first half of 2026 previously. The delay resulted from unexpected adverse events observed in 5 out of 142 rats in a 13-week chronic toxicity study.

Neumora attributed the adverse events to CRO-specific conduct issues rather than drug effects and is repeating the rat study at a separate CRO to complete its IND submission package. The company’s Navacaprant phase 3 trials KOASTAL-2 and KOASTAL-3 have completed enrollment.

Neumora expressed confidence in trial conduct and patient selection for the KOASTAL studies. The trials follow the failure of KOASTAL-1 and Johnson & Johnson’s aticaprant studies.

The company expects additional phase 1 MAD data for ’511, a V1AR candidate for Alzheimer’s disease agitation, and ’898, an M4 candidate for schizophrenia, in the second half of 2026.

In other recent news, Neumora Therapeutics reported its earnings for the fourth quarter of 2025, surpassing expectations with an earnings per share (EPS) of -0.35, compared to the anticipated -0.47. This represents a positive earnings surprise of 25.53%. Despite this achievement, the company’s stock experienced a decline in premarket trading. Neumora Therapeutics continues to hold a strong cash position, which supports the advancement of its clinical pipeline. These developments come as the company remains focused on its strategic objectives. The earnings report highlights Neumora’s ability to manage its financial resources effectively. Investors may take note of the company’s financial health and ongoing projects.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com - BofA Securities raised its price target on United Therapeutics Corp. (NASDAQ:UTHR) to $626 from $569 while maintaining a Neutral rating on the stock. The stock currently trades at $591.22 with a market cap of $25.91 billion, having delivered a remarkable 70% return over the past year.

The firm increased its target following positive Phase 3 TETON-1 trial results for Tyvaso in treating idiopathic pulmonary fibrosis. The data represents the second confirmatory trial for the drug in this indication.

The TETON-1 results showed a placebo-adjusted forced vital capacity improvement of approximately 130 milliliters, compared to roughly 100 milliliters in the earlier TETON-2 trial. Tyvaso also demonstrated statistically significant benefit on time to clinical worsening, a key secondary endpoint.

BofA Securities revised its peak Tyvaso revenue estimate to approximately $4 billion from $3 billion, applying a 90% probability of success for the IPF indication. United Therapeutics plans to submit a supplemental new drug application this summer. The company maintains impressive gross profit margins of 88%, though InvestingPro analysis suggests the stock may be overvalued at current levels. For deeper insights, investors can access a comprehensive Pro Research Report on UTHR, one of 1,400+ available reports transforming complex data into actionable intelligence.

The adverse event and safety profile in TETON-1 was consistent with previous Tyvaso studies, according to the company’s press release. Detailed study data is expected to be presented at a future medical meeting, possibly the American Thoracic Society conference scheduled for May 15-20.

In other recent news, United Therapeutics has reported significant developments in its Phase 3 study for the drug Tyvaso, targeting idiopathic pulmonary fibrosis (IPF). The TETON-1 study, conducted in the U.S. and Canada, successfully met its primary endpoint, showing a 130.1 milliliter improvement in forced vital capacity compared to a placebo, with a statistical significance of p

Jefferies highlighted that the study’s outcomes exceeded both investor and firm expectations, noting the results were superior to a similar study conducted outside the U.S. and Canada. Morgan Stanley reiterated an Equalweight rating with a $471 price target, acknowledging the trial’s success. These developments have led to increased confidence in United Therapeutics’ prospects in treating IPF, as reflected in the analyst upgrades and revised price targets.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.