Wedbush Research Analysts Lift Earnings Estimates for Alpine Immune Sciences, Inc. (NASDAQ:ALPN)

Alpine Immune Sciences, Inc. (NASDAQ:ALPN) – Equities researchers at Wedbush upped their Q1 2024 earnings per share (EPS) estimates for shares of Alpine Immune Sciences in a research report issued on Thursday, April 11th. Wedbush analyst R. Driscoll now anticipates that the biotechnology company will earn ($0.45) per share for the quarter, up from their prior forecast of ($0.48). Wedbush currently has a “Neutral” rating on the stock. The consensus estimate for Alpine Immune Sciences’ current full-year earnings is ($1.74) per share. Wedbush also issued estimates for Alpine Immune Sciences’ Q2 2024 earnings at ($0.45) EPS, Q3 2024 earnings at ($0.46) EPS, Q4 2024 earnings at ($0.47) EPS, FY2024 earnings at ($1.84) EPS, FY2025 earnings at ($1.95) EPS, FY2026 earnings at ($2.11) EPS, FY2027 earnings at ($2.58) EPS and FY2028 earnings at ($1.17) EPS.

Several other research analysts have also issued reports on ALPN. TD Cowen reaffirmed a “hold” rating on shares of Alpine Immune Sciences in a research report on Tuesday. Wolfe Research reaffirmed a “peer perform” rating on shares of Alpine Immune Sciences in a research report on Thursday, April 11th. Oppenheimer reaffirmed an “outperform” rating and set a $44.00 target price (up from $33.00) on shares of Alpine Immune Sciences in a research report on Tuesday, March 19th. Morgan Stanley reaffirmed an “equal weight” rating and set a $65.00 target price (up from $47.00) on shares of Alpine Immune Sciences in a research report on Thursday, April 11th. Finally, SVB Leerink lowered Alpine Immune Sciences from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $42.00 to $65.00 in a report on Friday, April 12th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.33.

Alpine Immune Sciences Price Performance

Shares of NASDAQ:ALPN opened at $64.50 on Monday. The business’s 50-day moving average is $37.92 and its 200 day moving average is $23.86. Alpine Immune Sciences has a 1 year low of $6.71 and a 1 year high of $64.57. The firm has a market capitalization of $4.23 billion, a P/E ratio of -100.78 and a beta of 1.14.

Alpine Immune Sciences (NASDAQ:ALPN) last issued its quarterly earnings data 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 firm had revenue of $30.85 million during the quarter, compared to analysts’ expectations of $6.90 million.

Institutional Trading of Alpine Immune Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of ALPN. JPMorgan Chase & Co. grew its holdings in Alpine Immune Sciences by 23.4% during the first quarter. JPMorgan Chase & Co. now owns 8,947 shares of the biotechnology company’s stock worth $80,000 after acquiring an additional 1,697 shares during the period. Vanguard Group Inc. grew its holdings in Alpine Immune Sciences by 1.4% during the first quarter. Vanguard Group Inc. now owns 707,598 shares of the biotechnology company’s stock worth $6,347,000 after acquiring an additional 9,844 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Alpine Immune Sciences by 7.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 32,417 shares of the biotechnology company’s stock worth $291,000 after purchasing an additional 2,294 shares in the last quarter. State Street Corp boosted its position in Alpine Immune Sciences by 7.1% during the first quarter. State Street Corp now owns 220,621 shares of the biotechnology company’s stock worth $1,979,000 after purchasing an additional 14,609 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Alpine Immune Sciences by 70.8% during the first quarter. Goldman Sachs Group Inc. now owns 22,850 shares of the biotechnology company’s stock worth $205,000 after purchasing an additional 9,471 shares in the last quarter. 75.17% of the stock is owned by institutional investors and hedge funds.

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.