Alumis Inc.

NasdaqGS:ALMS Stock Report

Market Cap: US$1.4b

Alumis Valuation

Is ALMS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ALMS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: Insufficient data to calculate ALMS's future cash flow value for valuation analysis.

Significantly Below Future Cash Flow Value: Insufficient data to calculate ALMS's future cash flow value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ALMS?

Key metric: As ALMS barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for ALMS. This is calculated by dividing ALMS's market cap by their current book value.
What is ALMS's PB Ratio?
PB Ratio3x
BookUS$452.16m
Market CapUS$1.37b

Price to Book Ratio vs Peers

How does ALMS's PB Ratio compare to its peers?

The above table shows the PB ratio for ALMS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average26.9x
MAZE Maze Therapeutics
3.2x-10.23%US$1.5b
HROW Harrow
93.3x55.66%US$1.4b
ANRO Alto Neuroscience
6.1x0.36%US$1.4b
LBRX LB Pharmaceuticals
4.8x-18.68%US$1.6b
ALMS Alumis
2.8x41.86%US$1.4b

Price-To-Book vs Peers: ALMS is good value based on its Price-To-Book Ratio (2.8x) compared to the peer average (26.6x).

Historical Price to Book Ratio

Historical Price to Book Ratio compares a stock's price to the book value of it's equity over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Book Ratio vs Industry

How does ALMS's PB Ratio compare vs other companies in the US Pharmaceuticals Industry?

17 CompaniesPrice / BookEstimated GrowthMarket Cap
TLRY Tilray Brands
0.4x72.99%US$589.06m
BGM BGM Group
0.3xn/aUS$116.38m
SDEV Stablecoin Development
0.3xn/aUS$44.04m
UPC Universe Pharmaceuticals
0.4xn/aUS$21.10m
ALMS 3.0xIndustry Avg. 2.5xNo. of Companies25PB01.63.24.86.48+
17 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: ALMS is expensive based on its Price-To-Book Ratio (2.8x) compared to the US Pharmaceuticals industry average (2.5x).

Price to Book Ratio vs Fair Ratio

What is ALMS's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ALMS PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio3x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate ALMS's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ALMS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$9.80
US$32.13
+227.81%
30.28%US$46.00US$15.00n/a8
Sep ’27US$9.47
US$35.44
+274.28%
19.32%US$46.00US$25.00n/a9
Aug ’27US$28.25
US$40.11
+41.99%
22.74%US$55.00US$25.00n/a9
Jul ’27US$26.64
US$40.10
+50.53%
21.58%US$55.00US$25.00n/a10
Jun ’27US$20.33
US$40.10
+97.25%
21.58%US$55.00US$25.00n/a10
May ’27US$25.18
US$38.40
+52.50%
20.81%US$55.00US$25.00n/a10
Apr ’27US$22.73
US$38.40
+68.94%
20.81%US$55.00US$25.00n/a10
Mar ’27US$29.69
US$38.00
+27.99%
14.99%US$50.00US$32.00n/a9
Feb ’27US$24.51
US$37.25
+51.98%
15.05%US$50.00US$32.00n/a8
Jan ’27US$9.76
US$19.86
+103.45%
13.57%US$25.00US$17.00n/a7
Dec ’26US$7.35
US$19.00
+158.50%
17.79%US$25.00US$14.00n/a7
Nov ’26US$4.75
US$19.00
+300.00%
17.79%US$25.00US$14.00n/a7
Oct ’26US$4.06
US$19.00
+367.98%
17.79%US$25.00US$14.00n/a7
Sep ’26US$4.64
US$19.00
+309.48%
17.79%US$25.00US$14.00US$9.477
Aug ’26US$4.13
US$20.43
+394.64%
24.24%US$29.00US$14.00US$28.257
Jul ’26US$3.02
US$21.00
+595.36%
24.44%US$29.00US$14.00US$26.646
Jun ’26US$3.50
US$21.60
+517.14%
25.12%US$29.00US$14.00US$20.335
May ’26US$3.83
US$21.50
+461.36%
28.77%US$29.00US$14.00US$25.184
Apr ’26US$7.24
US$21.75
+200.41%
27.08%US$29.00US$15.00US$22.734
Mar ’26US$4.65
US$22.75
+389.25%
21.62%US$29.00US$17.00US$29.694
Feb ’26US$7.48
US$30.33
+305.53%
14.33%US$38.00US$25.00US$24.516
Jan ’26US$7.86
US$30.00
+281.68%
15.63%US$38.00US$25.00US$9.765
Dec ’25US$9.26
US$30.00
+223.97%
15.63%US$38.00US$25.00US$7.355
Nov ’25US$11.31
US$30.40
+168.79%
11.88%US$36.00US$25.00US$4.755
Oct ’25US$10.67
US$32.33
+203.03%
8.87%US$36.00US$29.00US$4.063
Sep ’25US$12.70
US$32.33
+154.59%
8.87%US$36.00US$29.00US$4.643
US$32.13
Fair Value
69.5% undervalued intrinsic discount
8
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/09 17:35
End of Day Share Price 2026/09/08 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Alumis Inc. is covered by 11 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Brian SkorneyBaird
Eric SchmidtCantor Fitzgerald & Co.
Janani SundararajanChardan Capital Markets, LLC