Alpine Immune Sciences (NASDAQ:ALPN) Downgraded to Market Perform at SVB Leerink

SVB Leerink lowered shares of Alpine Immune Sciences (NASDAQ:ALPN) from an outperform rating to a market perform rating in a research report sent to investors on Friday, MarketBeat Ratings reports. They currently have $65.00 price target on the biotechnology company’s stock, up from their prior price target of $42.00.

Several other analysts also recently issued reports on the company. Wolfe Research restated a peer perform rating on shares of Alpine Immune Sciences in a research note on Thursday, April 11th. Guggenheim started coverage on Alpine Immune Sciences in a report on Tuesday, April 9th. They issued a buy rating and a $55.00 price objective for the company. Wedbush cut Alpine Immune Sciences from an outperform rating to a neutral rating in a report on Thursday, April 11th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $65.00 price objective (up from $41.00) on shares of Alpine Immune Sciences in a report on Thursday, April 11th. Finally, Morgan Stanley reaffirmed an equal weight rating and issued a $65.00 price objective (up from $47.00) on shares of Alpine Immune Sciences in a report on Thursday, April 11th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $50.33.

Alpine Immune Sciences Price Performance

ALPN opened at $64.42 on Friday. The business has a fifty day simple moving average of $37.16 and a 200 day simple moving average of $23.49. The company has a market capitalization of $4.22 billion, a PE ratio of -100.66 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 (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.47. The business had revenue of $30.85 million during the quarter, compared to the consensus estimate of $6.90 million. Alpine Immune Sciences had a negative return on equity of 15.54% and a negative net margin of 54.66%. Equities analysts anticipate that Alpine Immune Sciences will post -1.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alpine Immune Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Decheng Capital LLC bought a new stake in shares of Alpine Immune Sciences in the 4th quarter valued at about $135,007,000. Decheng Capital Management III Cayman LLC bought a new stake in shares of Alpine Immune Sciences in the 3rd quarter valued at about $76,810,000. Great Point Partners LLC grew its position in shares of Alpine Immune Sciences by 20.3% in the 4th quarter. Great Point Partners LLC now owns 3,703,433 shares of the biotechnology company’s stock valued at $70,587,000 after buying an additional 624,800 shares during the last quarter. Frazier Life Sciences Management L.P. grew its position in shares of Alpine Immune Sciences by 4.9% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,131,008 shares of the biotechnology company’s stock valued at $59,677,000 after buying an additional 145,251 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Alpine Immune Sciences by 46.9% in the 2nd quarter. BlackRock Inc. now owns 2,281,692 shares of the biotechnology company’s stock valued at $23,456,000 after buying an additional 728,772 shares during the last quarter. Institutional investors and hedge funds own 75.17% of the company’s stock.

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.