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

Alpine Immune Sciences (NASDAQ:ALPN) was downgraded by research analysts at Wedbush from an “outperform” rating to a “neutral” rating in a note issued to investors on Thursday, MarketBeat.com reports.

A number of other research firms also recently issued reports on ALPN. Oppenheimer restated an “outperform” rating and set a $44.00 price target (up from $33.00) on shares of Alpine Immune Sciences in a research note on Tuesday, March 19th. Morgan Stanley reaffirmed an “equal weight” rating and set a $65.00 price objective (up from $47.00) on shares of Alpine Immune Sciences in a research report on Thursday. Guggenheim assumed coverage on Alpine Immune Sciences in a research report on Tuesday. They set a “buy” rating and a $55.00 price objective on the stock. Wolfe Research reaffirmed a “peer perform” rating on shares of Alpine Immune Sciences in a research report on Thursday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $65.00 price objective (up from $41.00) on shares of Alpine Immune Sciences in a research report on Thursday. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Alpine Immune Sciences has an average rating of “Hold” and a consensus price target of $50.33.

Alpine Immune Sciences Stock Down 0.0 %

Alpine Immune Sciences stock opened at $64.37 on Thursday. The business has a 50-day simple moving average of $36.42 and a two-hundred day simple moving average of $22.96. The company has a market cap of $4.22 billion, a P/E ratio of -100.58 and a beta of 1.14. Alpine Immune Sciences has a 52-week low of $6.71 and a 52-week 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 analysts’ consensus estimates 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%. Research analysts anticipate that Alpine Immune Sciences will post -1.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALPN. Royal Bank of Canada lifted its holdings in 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 worth $27,000 after purchasing an additional 1,315 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Alpine Immune Sciences by 745.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,488 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 1,312 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Alpine Immune Sciences in the 3rd quarter worth approximately $35,000. Barclays PLC lifted its holdings in Alpine Immune Sciences by 818.4% in the 4th quarter. Barclays PLC now owns 6,080 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 5,418 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC lifted its holdings in Alpine Immune Sciences by 88.7% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 6,572 shares of the biotechnology company’s stock worth $47,000 after purchasing an additional 3,090 shares in the last quarter. 75.17% of the stock is owned by hedge funds and other institutional investors.

About Alpine Immune Sciences

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.