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

Alpine Immune Sciences (NASDAQ:ALPN) was downgraded by research analysts at SVB Leerink from an “outperform” rating to a “market perform” rating in a note issued to investors on Friday, MarketBeat reports. They currently have a $65.00 target price on the biotechnology company’s stock, up from their prior target price of $42.00. SVB Leerink’s price objective indicates a potential upside of 0.98% from the stock’s current price.

Other analysts have also recently issued reports about the company. HC Wainwright cut Alpine Immune Sciences from a “buy” rating to a “neutral” rating in a research report on Thursday. Oppenheimer restated an “outperform” rating and issued a $44.00 price objective (up from $33.00) on shares of Alpine Immune Sciences in a research report on Tuesday, March 19th. Guggenheim initiated coverage on Alpine Immune Sciences in a research report on Tuesday, April 9th. They issued a “buy” rating and a $55.00 price objective for the company. 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 research report on Thursday. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $65.00 price objective (up from $41.00) on shares of Alpine Immune Sciences in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $50.33.

Alpine Immune Sciences Trading Down 0.0 %

Shares of ALPN stock opened at $64.37 on Friday. The stock 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 twelve month low of $6.71 and a twelve month high of $64.57.

Alpine Immune Sciences (NASDAQ:ALPN) last announced its quarterly 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. The company had revenue of $30.85 million during the quarter, compared to analysts’ expectations of $6.90 million. Alpine Immune Sciences had a negative return on equity of 15.54% and a negative net margin of 54.66%. On average, research analysts predict that Alpine Immune Sciences will post -1.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alpine Immune Sciences

A number of institutional investors have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise acquired a new stake in shares of Alpine Immune Sciences in the 1st quarter worth $798,000. HighPoint Advisor Group LLC acquired a new stake in Alpine Immune Sciences during the fourth quarter worth about $290,000. Vanguard Group Inc. increased its position in 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 purchasing an additional 759,888 shares during the last quarter. Wellington Management Group LLP raised its stake in Alpine Immune Sciences by 176.6% during the fourth 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. boosted its holdings in Alpine Immune Sciences by 2.2% in the 4th quarter. American International Group Inc. now owns 16,185 shares of the biotechnology company’s stock valued at $308,000 after purchasing an additional 343 shares during the last quarter. Hedge funds and other institutional investors own 75.17% of the company’s stock.

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.