Morgan Stanley Reaffirms “Equal Weight” Rating for Alpine Immune Sciences (NASDAQ:ALPN)

Alpine Immune Sciences (NASDAQ:ALPN)‘s stock had its “equal weight” rating reiterated by equities researchers at Morgan Stanley in a report issued on Thursday, Benzinga reports. They currently have a $65.00 price target on the biotechnology company’s stock, up from their prior price target of $47.00. Morgan Stanley’s target price indicates a potential upside of 0.98% from the company’s current price.

Several other analysts also recently weighed in on ALPN. Oppenheimer reissued an “outperform” rating and issued a $44.00 target price (up from $33.00) on shares of Alpine Immune Sciences in a report on Tuesday, March 19th. HC Wainwright boosted their target price on Alpine Immune Sciences from $32.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Guggenheim initiated coverage on Alpine Immune Sciences in a report on Tuesday. They issued a “buy” rating and a $55.00 target price for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $65.00 target price (up from $41.00) on shares of Alpine Immune Sciences in a report on Thursday. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Alpine Immune Sciences in a research note on Thursday. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $50.33.

Alpine Immune Sciences Price Performance

Shares of NASDAQ ALPN opened at $64.37 on Thursday. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of -100.58 and a beta of 1.14. The business has a 50-day moving average of $36.42 and a two-hundred day moving average of $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 earnings results on Monday, March 18th. The biotechnology company reported $0.15 earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.47. Alpine Immune Sciences had a negative return on equity of 15.54% and a negative net margin of 54.66%. The business had revenue of $30.85 million during the quarter, compared to the consensus estimate of $6.90 million. As a group, equities research analysts expect that Alpine Immune Sciences will post -1.76 earnings per share for the current year.

Institutional Trading of Alpine Immune Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise purchased a new stake in Alpine Immune Sciences during the 1st quarter valued at approximately $798,000. HighPoint Advisor Group LLC acquired a new position in Alpine Immune Sciences during the 4th quarter worth approximately $290,000. Vanguard Group Inc. increased its position in Alpine Immune Sciences by 51.5% during the 4th quarter. Vanguard Group Inc. now owns 2,234,767 shares of the biotechnology company’s stock worth $42,595,000 after purchasing an additional 759,888 shares during the period. Wellington Management Group LLP increased its position in Alpine Immune Sciences by 176.6% during the 4th quarter. Wellington Management Group LLP now owns 109,882 shares of the biotechnology company’s stock worth $2,094,000 after purchasing an additional 70,151 shares during the period. Finally, American International Group Inc. increased its position in Alpine Immune Sciences by 2.2% during the 4th quarter. American International Group Inc. now owns 16,185 shares of the biotechnology company’s stock worth $308,000 after purchasing an additional 343 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.