Alpine Immune Sciences (NASDAQ:ALPN) Lowered to Market Perform at Leerink Partnrs

Alpine Immune Sciences (NASDAQ:ALPN - Get Free Report) was downgraded by Leerink Partnrs from an "outperform" rating to a "market perform" rating in a note issued to investors on Thursday, Zacks.com reports.

A number of other equities research analysts also recently issued reports on ALPN. Oppenheimer restated an "outperform" rating and set a $44.00 price target (up from $33.00) on shares of Alpine Immune Sciences in a research note on Tuesday, March 19th. Wolfe Research restated a "peer perform" rating on shares of Alpine Immune Sciences in a research note on Thursday. Wedbush downgraded Alpine Immune Sciences from an "outperform" rating to a "neutral" rating in a research note on Thursday. SVB Leerink downgraded Alpine Immune Sciences from an "outperform" rating to a "market perform" rating and boosted their price target for the company from $42.00 to $65.00 in a research note on Friday. Finally, HC Wainwright downgraded Alpine Immune Sciences from a "buy" rating to a "neutral" rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $50.33.

Alpine Immune Sciences Stock Performance

Shares of ALPN traded down $0.03 during trading hours on Thursday, hitting $64.37. The company had a trading volume of 4,100,062 shares, compared to its average volume of 3,616,969. Alpine Immune Sciences has a 52-week low of $6.71 and a 52-week high of $64.57. The firm has a fifty day moving average price of $36.42 and a 200-day moving average price of $23.04. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of -100.58 and a beta of 1.14.

Alpine Immune Sciences (NASDAQ:ALPN - Get Free Report) last issued its earnings results 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 return on equity of 15.54% and a negative net margin of 54.66%. The business had revenue of $30.85 million during the quarter, compared to analyst estimates of $6.90 million. Research analysts anticipate that Alpine Immune Sciences will post -1.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Decheng Capital LLC purchased a new position in Alpine Immune Sciences in the 4th quarter worth approximately $135,007,000. Decheng Capital Management III Cayman LLC purchased a new position in Alpine Immune Sciences in the 3rd quarter worth approximately $76,810,000. Great Point Partners LLC lifted its holdings in Alpine Immune Sciences by 20.3% in the 4th quarter. Great Point Partners LLC now owns 3,703,433 shares of the biotechnology company's stock worth $70,587,000 after purchasing an additional 624,800 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its holdings in Alpine Immune Sciences by 4.9% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,131,008 shares of the biotechnology company's stock worth $59,677,000 after purchasing an additional 145,251 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Alpine Immune Sciences by 46.9% in the 2nd quarter. BlackRock Inc. now owns 2,281,692 shares of the biotechnology company's stock worth $23,456,000 after purchasing an additional 728,772 shares in the last quarter. 75.17% of the stock is currently owned by 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.