Alpine Immune Sciences’ (ALPN) “Hold” Rating Reaffirmed at TD Cowen

Alpine Immune Sciences (NASDAQ:ALPN)‘s stock had its “hold” rating reaffirmed by equities researchers at TD Cowen in a report issued on Tuesday, Benzinga reports.

Several other equities research analysts have also issued reports on the stock. HC Wainwright lowered shares of Alpine Immune Sciences from a “buy” rating to a “neutral” rating in a research report on Thursday, April 11th. Oppenheimer restated an “outperform” rating and issued a $44.00 price objective (up from $33.00) on shares of Alpine Immune Sciences in a report on Tuesday, March 19th. Guggenheim began coverage on shares of Alpine Immune Sciences in a report on Tuesday, April 9th. They issued a “buy” rating and a $55.00 price objective for the company. Wedbush lowered shares of Alpine Immune Sciences from an “outperform” rating to a “neutral” rating in a report on Thursday, April 11th. 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 report on Thursday, April 11th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $50.33.

Alpine Immune Sciences Price Performance

Shares of Alpine Immune Sciences stock opened at $64.46 on Tuesday. Alpine Immune Sciences has a 1 year low of $6.71 and a 1 year high of $64.57. The firm has a market cap of $4.23 billion, a PE ratio of -100.72 and a beta of 1.14. The company has a 50 day simple moving average of $38.66 and a two-hundred day simple moving average of $24.15.

Alpine Immune Sciences (NASDAQ:ALPN) last announced its earnings results on Monday, March 18th. The biotechnology company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $6.90 million. As a group, research analysts anticipate that Alpine Immune Sciences will post -1.74 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. American International Group Inc. increased its stake 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 worth $308,000 after buying an additional 343 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Alpine Immune Sciences by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 92,723 shares of the biotechnology company’s stock worth $1,062,000 after buying an additional 1,216 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Alpine Immune Sciences by 745.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,488 shares of the biotechnology company’s stock worth $28,000 after buying an additional 1,312 shares during the period. Royal Bank of Canada increased its position in Alpine Immune Sciences by 99.1% during the 2nd quarter. Royal Bank of Canada now owns 2,642 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 1,315 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Alpine Immune Sciences by 23.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,947 shares of the biotechnology company’s stock valued at $80,000 after purchasing an additional 1,697 shares during the period. 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.