HC Wainwright Downgrades Alpine Immune Sciences (NASDAQ:ALPN) to Neutral

Alpine Immune Sciences (NASDAQ:ALPN) was downgraded by investment analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

ALPN has been the topic of a number of other research reports. Morgan Stanley restated an “equal weight” rating and issued a $65.00 target price (up previously from $47.00) on shares of Alpine Immune Sciences in a research report on Thursday. Royal Bank of Canada restated a “sector perform” rating and issued a $65.00 target price (up previously from $41.00) on shares of Alpine Immune Sciences in a research report on Thursday. Wolfe Research restated a “peer perform” rating on shares of Alpine Immune Sciences in a research report on Thursday. Wedbush downgraded shares of Alpine Immune Sciences from an “outperform” rating to a “neutral” rating in a research note on Thursday. Finally, Guggenheim began coverage on shares of Alpine Immune Sciences in a research note on Tuesday. They set a “buy” rating and a $55.00 price target for the company. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $50.33.

Alpine Immune Sciences Trading Down 0.0 %

NASDAQ ALPN opened at $64.37 on Thursday. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of -100.58 and a beta of 1.14. The firm’s 50 day simple moving average is $36.42 and its 200 day simple moving average is $22.96. 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 posted its quarterly earnings results on Monday, March 18th. The biotechnology company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.47. The business had revenue of $30.85 million for the quarter, compared to analyst estimates of $6.90 million. Alpine Immune Sciences had a negative net margin of 54.66% and a negative return on equity of 15.54%. On average, equities research analysts forecast that Alpine Immune Sciences will post -1.76 earnings per share for the current year.

Hedge Funds Weigh In On Alpine Immune Sciences

A number of hedge funds have recently bought and sold shares of the company. Decheng Capital LLC acquired a new stake in Alpine Immune Sciences in the fourth quarter worth $135,007,000. Decheng Capital Management III Cayman LLC bought a new stake in shares of Alpine Immune Sciences during the third quarter worth about $76,810,000. Franklin Resources Inc. bought a new stake in shares of Alpine Immune Sciences during the fourth quarter worth about $23,260,000. Vanguard Group Inc. increased its position in shares of Alpine Immune Sciences by 51.5% during the fourth quarter. Vanguard Group Inc. now owns 2,234,767 shares of the biotechnology company’s stock worth $42,595,000 after acquiring an additional 759,888 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Alpine Immune Sciences by 46.9% during the second quarter. BlackRock Inc. now owns 2,281,692 shares of the biotechnology company’s stock worth $23,456,000 after acquiring an additional 728,772 shares in the last quarter. Institutional investors 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.