Alpine Immune Sciences (NASDAQ:ALPN) Cut to “Market Perform” at Leerink Partnrs

Leerink Partnrs lowered shares of Alpine Immune Sciences (NASDAQ:ALPN) from an outperform rating to a market perform rating in a report released on Thursday, Zacks.com reports.

A number of other equities research analysts have also weighed in on the stock. Morgan Stanley restated 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. SVB Leerink lowered shares of Alpine Immune Sciences from an outperform rating to a market perform rating and upped their price target for the company from $42.00 to $65.00 in a report on Friday. HC Wainwright lowered shares of Alpine Immune Sciences from a buy rating to a neutral rating in a report on Thursday. Wedbush lowered shares of Alpine Immune Sciences from an outperform rating to a neutral rating in a report on Thursday. Finally, Wolfe Research reiterated a peer perform rating on shares of Alpine Immune Sciences in a report on Thursday. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $50.33.

Alpine Immune Sciences Trading Down 0.0 %

Shares of NASDAQ:ALPN opened at $64.37 on Thursday. The company has a 50 day moving average of $36.42 and a 200 day moving average of $23.04. The stock 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 12 month low of $6.71 and a 12 month 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 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $6.90 million. On average, equities analysts forecast that Alpine Immune Sciences will post -1.76 earnings per share for the current fiscal year.

Institutional Trading of Alpine Immune Sciences

Institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings 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 acquiring an additional 1,312 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of 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 during the period. ADAR1 Capital Management LLC bought a new position in shares of Alpine Immune Sciences in the 4th quarter worth approximately $58,000. AJOVista LLC bought a new position in shares of Alpine Immune Sciences in the 4th quarter worth approximately $64,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Alpine Immune Sciences in the 3rd quarter worth approximately $35,000. 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.