Alpine Immune Sciences (NASDAQ:ALPN) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Alpine Immune Sciences (NASDAQ:ALPN) from a hold rating to a buy rating in a research note released on Friday morning, Zacks.com reports. The brokerage currently has $3.25 price objective on the biotechnology company’s stock.
According to Zacks, “Alpine Immune Sciences Inc. operates as a specialty pharmaceutical company. It engages in the discovery and development of protein-based immunotherapies for the treatment of cancer, inflammatory disorders and other diseases. Alpine Immune Sciences Inc., formerly known as Nivalis Therapeutics, is based in Seattle, Washington. “
Separately, Piper Jaffray Companies dropped their price objective on shares of Alpine Immune Sciences to $8.00 and set an overweight rating on the stock in a research note on Wednesday, November 13th. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Alpine Immune Sciences currently has a consensus rating of Buy and an average price target of $9.31.
Alpine Immune Sciences (NASDAQ:ALPN) last issued its earnings results on Wednesday, November 13th. The biotechnology company reported ($0.62) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.68) by $0.06. The business had revenue of $0.29 million for the quarter, compared to analyst estimates of $0.38 million. On average, equities analysts expect that Alpine Immune Sciences will post -2.54 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its stake in Alpine Immune Sciences by 10.8% during the 2nd quarter. Renaissance Technologies LLC now owns 106,261 shares of the biotechnology company’s stock valued at $447,000 after purchasing an additional 10,400 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in shares of Alpine Immune Sciences during the second quarter valued at approximately $90,000. Hikari Power Ltd raised its holdings in shares of Alpine Immune Sciences by 52.9% during the third quarter. Hikari Power Ltd now owns 185,587 shares of the biotechnology company’s stock valued at $735,000 after buying an additional 64,224 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Alpine Immune Sciences by 67.7% during the second quarter. Vanguard Group Inc. now owns 202,582 shares of the biotechnology company’s stock worth $853,000 after buying an additional 81,800 shares during the period. Institutional investors and hedge funds own 46.80% of the company’s stock.
Alpine Immune Sciences Company Profile
Alpine Immune Sciences, Inc focuses on the discovery and development of protein-based immunotherapies for the treatment of cancer, autoimmune/inflammatory disorders, and other diseases. Its lead programs include ALPN-101, an inducible T cell costimulator (ICOS)/cluster of differentiation 28 (CD28) antagonist program for the treatment of autoimmune and inflammatory diseases; and ALPN-202, a programmed cell death protein ligand 1 (PD-L1)/cytotoxic T-lymphocyte associated protein 4 (CTLA-4) antagonist with PD-L1 dependent CD28 costimulation for the treatment of cancer.
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