Zacks Investment Research cut shares of Alpine Immune Sciences (NASDAQ:ALPN) from a buy rating to a hold rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “Alpine Immune Sciences Inc. operates as a specialty pharmaceutical company. It engages in the discovery and development of protein-based immunotherapies for the treatment of cancer, inflammatory disorders and other diseases. Alpine Immune Sciences Inc., formerly known as Nivalis Therapeutics, is based in Seattle, Washington. “

Separately, Piper Jaffray Companies reduced their price target on Alpine Immune Sciences to $8.00 and set an overweight rating for the company in a research report on Wednesday, November 13th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Alpine Immune Sciences has an average rating of Buy and an average price target of $9.31.

Alpine Immune Sciences stock opened at $3.07 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.84 and a current ratio of 3.84. Alpine Immune Sciences has a 1-year low of $2.25 and a 1-year high of $8.24. The firm’s fifty day simple moving average is $2.89 and its 200-day simple moving average is $3.94.

Alpine Immune Sciences (NASDAQ:ALPN) last issued its quarterly earnings data on Wednesday, November 13th. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.68) by $0.06. The business had revenue of $0.29 million during the quarter, compared to the consensus estimate of $0.38 million. On average, research analysts predict that Alpine Immune Sciences will post -2.54 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in ALPN. Vanguard Group Inc. grew its holdings in Alpine Immune Sciences by 67.7% during the second quarter. Vanguard Group Inc. now owns 202,582 shares of the biotechnology company’s stock valued at $853,000 after purchasing an additional 81,800 shares during the last quarter. Hikari Power Ltd lifted its stake in shares of Alpine Immune Sciences by 52.9% in the third quarter. Hikari Power Ltd now owns 185,587 shares of the biotechnology company’s stock worth $735,000 after buying an additional 64,224 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Alpine Immune Sciences in the second quarter worth $90,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Alpine Immune Sciences by 10.8% during the 2nd quarter. Renaissance Technologies LLC now owns 106,261 shares of the biotechnology company’s stock worth $447,000 after buying an additional 10,400 shares during the period. 46.80% of the stock is owned by hedge funds and other institutional investors.

Alpine Immune Sciences Company Profile

Alpine Immune Sciences, Inc focuses on the discovery and development of protein-based immunotherapies for the treatment of cancer, autoimmune/inflammatory disorders, and other diseases. Its lead programs include ALPN-101, an inducible T cell costimulator (ICOS)/cluster of differentiation 28 (CD28) antagonist program for the treatment of autoimmune and inflammatory diseases; and ALPN-202, a programmed cell death protein ligand 1 (PD-L1)/cytotoxic T-lymphocyte associated protein 4 (CTLA-4) antagonist with PD-L1 dependent CD28 costimulation for the treatment of cancer.

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