Alpine Immune Sciences Analysts Boost Their Forecasts After Q4 Earnings

Alpine Immune Sciences, Inc. ALPN reported better-than-expected fourth-quarter financial results.

Alpine Immune Sciences posted GAAP earnings of 15 cents per share, versus market estimates for a loss of 29 cents per share. The company’s quarterly sales came in at $30.853 million, compared to expectations of $9.104 million, according to data from Benzinga Pro.

"2023 was a transformational year for Alpine, with initial IgA nephropathy (IgAN) data presented at the American Society of Nephrology Kidney Week 2023 suggesting a best-in-class profile for povetacicept, our next-generation dual BAFF/APRIL inhibitor. With our encouraging data set in IgAN, convenient once monthly dosing regimen, and strong balance sheet, we are rapidly advancing development of povetacicept as a potentially meaningful new therapeutic option for patients living with IgAN, systemic lupus erythematosus (SLE), and multiple other autoantibody-related diseases," said Mitchell H. Gold, MD, Executive Chairman and Chief Executive Officer of Alpine.

Alpine Immune Sciences shares gained 14.6% to trade at $40.63 on Tuesday.

These analysts made changes to their price targets on Alpine Immune Sciences following earnings announcement.

• HC Wainwright & Co. raised the price target on Alpine Immune Sciences from $32 to $50. HC Wainwright & Co. analyst Joseph Pantginis maintained a Buy rating.
• Oppenheimer boosted the price target on Alpine Immune Sciences from $33 to $44. Oppenheimer analyst Justin Kim maintained an Outperform rating.
• Morgan Stanley increased the price target on Alpine Immune Sciences from $30 to $47. Morgan Stanley analyst Michael Ulz maintained an Overweight rating.

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