Alpine Immune Sciences (NASDAQ:ALPN) Cut to “Neutral” at Wedbush

Wedbush downgraded shares of Alpine Immune Sciences (NASDAQ:ALPN) from an outperform rating to a neutral rating in a report published on Thursday, MarketBeat reports.

ALPN has been the topic of several other reports. Oppenheimer reiterated an outperform rating and issued a $44.00 price target (up from $33.00) on shares of Alpine Immune Sciences in a report on Tuesday, March 19th. Morgan Stanley reiterated an equal weight rating and set a $65.00 target price (up from $47.00) on shares of Alpine Immune Sciences in a research report on Thursday. HC Wainwright upped their price target on shares of Alpine Immune Sciences from $32.00 to $50.00 and gave the stock a buy rating in a report on Tuesday, March 19th. Royal Bank of Canada reiterated a sector perform rating and set a $65.00 price objective (up previously from $41.00) on shares of Alpine Immune Sciences in a report on Thursday. Finally, Guggenheim began coverage on shares of Alpine Immune Sciences in a research note on Tuesday, April 9th. They issued a buy rating and a $55.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $50.33.

Alpine Immune Sciences Stock Down 0.0 %

Alpine Immune Sciences stock opened at $64.37 on Thursday. The company’s 50-day moving average price is $36.42 and its 200-day moving average price is $23.04. The company has a market cap of $4.22 billion, a PE ratio of -100.58 and a beta of 1.14. Alpine Immune Sciences has a twelve month low of $6.71 and a twelve month high of $64.57.

Alpine Immune Sciences (NASDAQ:ALPN) last released its quarterly earnings results on Monday, March 18th. The biotechnology company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.47. Alpine Immune Sciences had a negative net margin of 54.66% and a negative return on equity of 15.54%. The firm had revenue of $30.85 million during the quarter, compared to analysts’ expectations of $6.90 million. As a group, sell-side analysts expect that Alpine Immune Sciences will post -1.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alpine Immune Sciences

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its stake in Alpine Immune Sciences by 745.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,488 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 1,312 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Alpine Immune Sciences by 99.1% in the 2nd quarter. Royal Bank of Canada now owns 2,642 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 1,315 shares in the last quarter. ADAR1 Capital Management LLC purchased a new position in shares of Alpine Immune Sciences in the 4th quarter worth approximately $58,000. AJOVista LLC bought a new position in shares of Alpine Immune Sciences during the 4th quarter worth approximately $64,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Alpine Immune Sciences during the third quarter valued at approximately $35,000. 75.17% of the stock is owned by hedge funds and other institutional investors.

Alpine Immune Sciences Company Profile

Alpine Immune Sciences, Inc operates as a clinical-stage biopharmaceutical company. It focuses on the discovery and development of immunotherapies through protein engineering technologies for treating autoimmune and inflammatory diseases. The company's product pipeline includes Povetacicept, a dual B cell cytokine antagonist, which is in Phase 2 clinical trial for the treatment of multiple autoimmune and inflammatory diseases; and Acazicolcept, a dual inhibitor of the CD28 and ICOS T cell costimulatory pathways that is in preclinical trial for the treatment of systemic lupus erythematosus.