10 Best Performing Stocks of Q1 2026 to Watch for Q2

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6. Alumis Inc. (NASDAQ:ALMS)

Q1 2026 Performance: 145.87%

Alumis Inc. (NASDAQ:ALMS) is one of the best-performing stocks of Q1 2026 to watch for Q2. On March 30, Raymond James reaffirmed its Strong Buy rating on Alumis Inc. (NASDAQ:ALMS) with a price target of $46 after the company presented Phase 3 trial data at the American Academy of Dermatology meeting.

Raymond James pointed out that full Phase 3 data was presented for both the company’s envu and competitor Takeda Pharmaceutical Company Limited’s (NYSE:TAK) zasocitinib in adults with moderate to severe plaque psoriasis.

The research firm noted that there is meaningful differentiation in safety profiles between the two drugs. Zasocitinib showed higher rates of treatment-emergent adverse events, serious adverse events and acne. It also had about twice the rate of upper respiratory tract infections and diarrhea compared to Alumis Inc.’s (NASDAQ:ALMS) envu. Raymond James believes envu emerged with a strong advantage over zasocitinib.

On the same day, Guggenheim also reiterated its Buy rating on Alumis Inc. (NASDAQ:ALMS) with a price target of $32 on the stock after the company’s Phase 3 psoriasis trials presented at the 2026 American Academy of Dermatology Annual Meeting.

Alumis Inc. (NASDAQ:ALMS) is a late-stage biopharma company focused on leveraging its proprietary data analytics platform and precision approach and developing next-generation targeted therapies for a range of immune-mediated diseases.

While we acknowledge the potential of ALMS to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ALMS and that has 100x upside potential, check out our report about the cheapest AI stock.

Click to continue reading and see the 5 Best Performing Stocks of Q1 2026 to Watch for Q2.

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