Alpine Immune Sciences (NASDAQ:ALPN) Earns Buy Rating from Analysts at Guggenheim

Guggenheim initiated coverage on shares of Alpine Immune Sciences (NASDAQ:ALPN - Free Report) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $55.00 price target on the biotechnology company's stock.

ALPN has been the topic of a number of other research reports. Morgan Stanley upped their price target on shares of Alpine Immune Sciences from $30.00 to $47.00 and gave the company an overweight rating in a research note on Tuesday, March 19th. Wedbush restated an outperform rating and set a $47.00 price target on shares of Alpine Immune Sciences in a research note on Tuesday, March 19th. HC Wainwright upped their price target on shares of Alpine Immune Sciences from $32.00 to $50.00 and gave the company a buy rating in a research note on Tuesday, March 19th. Oppenheimer reiterated an outperform rating and issued a $44.00 price objective (up previously from $33.00) on shares of Alpine Immune Sciences in a research note on Tuesday, March 19th. Finally, Wolfe Research began coverage on shares of Alpine Immune Sciences in a research note on Thursday, February 15th. They issued an outperform rating and a $44.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, Alpine Immune Sciences presently has a consensus rating of Buy and an average target price of $40.88.

Alpine Immune Sciences Stock Performance

NASDAQ:ALPN traded up $0.41 during midday trading on Tuesday, reaching $38.94. 1,174,731 shares of the stock traded hands, compared to its average volume of 1,171,634. Alpine Immune Sciences has a 12-month low of $6.71 and a 12-month high of $42.88. The stock has a market capitalization of $2.55 billion, a PE ratio of -59.55 and a beta of 1.14. The business has a 50-day moving average of $34.28 and a two-hundred day moving average of $21.94.

Institutional Trading of Alpine Immune Sciences

A number of hedge funds have recently added to or reduced their stakes in ALPN. Decheng Capital LLC purchased a new stake in Alpine Immune Sciences during the fourth quarter worth $135,007,000. Decheng Capital Management III Cayman LLC purchased a new stake in Alpine Immune Sciences during the third quarter worth $76,810,000. Franklin Resources Inc. purchased a new stake in Alpine Immune Sciences during the fourth quarter worth $23,260,000. Vanguard Group Inc. boosted its holdings 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 buying an additional 759,888 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in Alpine Immune Sciences by 46.9% during the second quarter. BlackRock Inc. now owns 2,281,692 shares of the biotechnology company's stock worth $23,456,000 after buying an additional 728,772 shares in the last quarter. 75.17% of the stock is owned by hedge funds and other institutional investors.

Alpine Immune Sciences Company Profile

Alpine Immune Sciences, Inc operates as a clinical-stage immunotherapy company. It focuses on creating various immunotherapies through protein engineering technologies for autoimmune and inflammatory diseases. The company has strategic collaborations with biopharmaceutical companies and has a pipeline of clinical and preclinical candidates in development.