Alpine Immune Sciences (NASDAQ:ALPN) Downgraded by SVB Leerink to “Market Perform”

SVB Leerink downgraded shares of Alpine Immune Sciences (NASDAQ:ALPN) from an outperform rating to a market perform rating in a research note released on Friday, Marketbeat.com reports. The brokerage currently has $65.00 price target on the biotechnology company’s stock, up from their prior price target of $42.00.

A number of other research firms have also recently commented on ALPN. Morgan Stanley reiterated an equal weight rating and set a $65.00 price target (up previously from $47.00) on shares of Alpine Immune Sciences in a report on Thursday, April 11th. Wedbush downgraded shares of Alpine Immune Sciences from an outperform rating to a neutral rating in a research report on Thursday, April 11th. HC Wainwright downgraded shares of Alpine Immune Sciences from a buy rating to a neutral rating in a research report on Thursday, April 11th. Royal Bank of Canada reaffirmed a sector perform rating and set a $65.00 target price (up from $41.00) on shares of Alpine Immune Sciences in a research note on Thursday, April 11th. Finally, Wolfe Research reaffirmed a peer perform rating on shares of Alpine Immune Sciences in a research note on Thursday, April 11th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $50.33.

Alpine Immune Sciences Price Performance

ALPN stock opened at $64.42 on Friday. The company has a market cap of $4.22 billion, a P/E ratio of -100.66 and a beta of 1.14. Alpine Immune Sciences has a 1 year low of $6.71 and a 1 year high of $64.57. The firm has a 50-day moving average of $37.16 and a 200 day moving average of $23.49.

Alpine Immune Sciences (NASDAQ:ALPN) last announced its quarterly earnings data on Monday, March 18th. The biotechnology company reported $0.15 earnings per share 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 for the quarter, compared to analysts’ expectations of $6.90 million. On average, equities research analysts expect that Alpine Immune Sciences will post -1.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alpine Immune Sciences

Several large investors have recently modified their holdings of ALPN. Banque Cantonale Vaudoise purchased a new stake in Alpine Immune Sciences during the 1st quarter worth approximately $798,000. HighPoint Advisor Group LLC acquired a new position in Alpine Immune Sciences during the fourth quarter worth $290,000. Vanguard Group Inc. raised 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 acquiring an additional 759,888 shares during the period. Wellington Management Group LLP raised its position in shares of Alpine Immune Sciences by 176.6% in the fourth quarter. Wellington Management Group LLP now owns 109,882 shares of the biotechnology company’s stock valued at $2,094,000 after buying an additional 70,151 shares during the last quarter. Finally, American International Group Inc. raised its position in shares of Alpine Immune Sciences by 2.2% in the fourth quarter. American International Group Inc. now owns 16,185 shares of the biotechnology company’s stock valued at $308,000 after buying an additional 343 shares during 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.