Oppenheimer Keeps Their Buy Rating on Alpine Immune Sciences Inc (ALPN)

By Carrie Williams

Oppenheimer analyst Mark Breidenbach maintained a Buy rating on Alpine Immune Sciences Inc (ALPNResearch Report) yesterday and set a price target of $13. The company’s shares closed yesterday at $5.74.

Breidenbach wrote:

“Monday, Alpine announced that dosing has commenced in a Phase 1 healthy volunteer trial (HV) of ALPN-101, a dual blocker of CD28 and ICOS based on Alpine’s variant immunoglobulin domain (vIgD) platform technology. ALPN-101 is the first vIgD-based therapy to enter the clinic, and we view the initiation as an important milestone. We believe ALPN-101 has the potential to become a best-in- class therapy in multiple inflammatory and autoimmune disorders, including graft- versus-host disease (GVHD). Preliminary results from the HV study could be available in 2H19, and exploratory biomarker analyses in the trial protocol could help inform ALPN-101’s development strategy. The company is on track to file a second IND for its oncology-focused ALPN-202 program in 1H19. Reiterate Outperform, $13 PT.”

According to TipRanks.com, Breidenbach is a 1-star analyst with an average return of -2.4% and a 36.7% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Global Blood Therapeutics, and Sorrento Therapeutics.

Alpine Immune Sciences Inc has an analyst consensus of Moderate Buy, with a price target consensus of $12.50.

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Based on Alpine Immune Sciences Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $12.14 million. In comparison, last year the company had a GAAP net loss of $4.32 million.

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Alpine Immune Sciences, Inc. is a development-stage pharmaceutical company, which engages in the discovering of protein-based immunotherapies therapies targeting the immune synapse to treat cancer, autoimmune, and inflammatory disorders. It offers Immunotherapy, Immune Synapse, vIgD Platform Technology, and TIP Program.