Alpine Immune Sciences (NASDAQ:ALPN) Given Equal Weight Rating at Morgan Stanley

Morgan Stanley restated their equal weight rating on shares of Alpine Immune Sciences (NASDAQ:ALPN) in a report issued on Thursday morning, Benzinga reports. They currently have a $65.00 target price on the biotechnology company’s stock, up from their prior target price of $47.00.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada restated a sector perform rating and set a $65.00 target price (up from $41.00) on shares of Alpine Immune Sciences in a report on Thursday. Guggenheim started coverage on shares of Alpine Immune Sciences in a report on Tuesday, April 9th. They issued a buy rating and a $55.00 target price on the stock. Wedbush reiterated an outperform rating and set a $47.00 price target on shares of Alpine Immune Sciences in a report on Tuesday, March 19th. Oppenheimer restated an outperform rating and issued a $44.00 price target (up previously from $33.00) on shares of Alpine Immune Sciences in a research note on Tuesday, March 19th. Finally, Wolfe Research reaffirmed a peer perform rating on shares of Alpine Immune Sciences in a research report on Thursday. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $50.33.

Alpine Immune Sciences Stock Performance

NASDAQ:ALPN opened at $64.37 on Thursday. Alpine Immune Sciences has a 52-week low of $6.71 and a 52-week high of $64.57. The company has a market cap of $4.22 billion, a P/E ratio of -100.58 and a beta of 1.14. The stock’s 50-day simple moving average is $36.42 and its 200 day simple moving average is $23.12.

Alpine Immune Sciences (NASDAQ:ALPN) last posted its quarterly earnings results on Monday, March 18th. The biotechnology company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.47. Alpine Immune Sciences had a negative return on equity of 15.54% and a negative net margin of 54.66%. The firm had revenue of $30.85 million during the quarter, compared to the consensus estimate of $6.90 million. As a group, equities analysts predict that Alpine Immune Sciences will post -1.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alpine Immune Sciences

A number of institutional investors have recently modified their holdings of the business. American International Group Inc. increased its position in Alpine Immune Sciences by 2.2% during the fourth quarter. American International Group Inc. now owns 16,185 shares of the biotechnology company’s stock worth $308,000 after acquiring an additional 343 shares during the period. Bank of New York Mellon Corp grew its position in shares of Alpine Immune Sciences by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 92,723 shares of the biotechnology company’s stock worth $1,062,000 after purchasing an additional 1,216 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position 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 worth $28,000 after purchasing an additional 1,312 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Alpine Immune Sciences by 99.1% during the second 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. Finally, JPMorgan Chase & Co. raised its position in shares of Alpine Immune Sciences by 23.4% in the first quarter. JPMorgan Chase & Co. now owns 8,947 shares of the biotechnology company’s stock valued at $80,000 after buying an additional 1,697 shares in 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.