TD Cowen Reaffirms “Hold” Rating for Alpine Immune Sciences (NASDAQ:ALPN)

TD Cowen reiterated their hold rating on shares of Alpine Immune Sciences (NASDAQ:ALPN) in a research note published on Tuesday morning, Benzinga reports.

Several other equities analysts have also issued reports on ALPN. Wolfe Research reaffirmed a peer perform rating on shares of Alpine Immune Sciences in a report on Thursday, April 11th. Morgan Stanley restated an equal weight rating and issued a $65.00 price objective (up previously from $47.00) on shares of Alpine Immune Sciences in a research note on Thursday, April 11th. Leerink Partnrs cut Alpine Immune Sciences from an outperform rating to a market perform rating in a research note on Thursday, April 11th. SVB Leerink downgraded shares of Alpine Immune Sciences from an outperform rating to a market perform rating and boosted their price target for the stock from $42.00 to $65.00 in a report on Friday, April 12th. Finally, HC Wainwright downgraded shares of Alpine Immune Sciences from a buy rating to a neutral rating in a report on Thursday, April 11th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $50.33.

Alpine Immune Sciences Price Performance

NASDAQ ALPN opened at $64.55 on Tuesday. The company has a fifty day moving average price of $40.09 and a 200-day moving average price of $24.80. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of -100.86 and a beta of 1.14. Alpine Immune Sciences has a 1 year low of $6.71 and a 1 year 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 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $30.85 million for the quarter, compared to analysts’ expectations of $6.90 million. On average, research analysts anticipate that Alpine Immune Sciences will post -1.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Alpine Immune Sciences

Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in shares of Alpine Immune Sciences by 99.1% in the second quarter. Royal Bank of Canada now owns 2,642 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 1,315 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Alpine Immune Sciences by 745.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,488 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 1,312 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Alpine Immune Sciences in the 3rd quarter worth approximately $35,000. Barclays PLC grew its stake in Alpine Immune Sciences by 818.4% in the 4th quarter. Barclays PLC now owns 6,080 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 5,418 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC raised its holdings in Alpine Immune Sciences by 88.7% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 6,572 shares of the biotechnology company’s stock valued at $47,000 after acquiring an additional 3,090 shares during the period. 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.