FY2023 EPS Estimates for Alpine Immune Sciences, Inc. (NASDAQ:ALPN) Increased by Analyst

Alpine Immune Sciences, Inc. (NASDAQ:ALPN) – Equities researchers at Wedbush raised their FY2023 earnings per share estimates for Alpine Immune Sciences in a note issued to investors on Wednesday, November 15th. Wedbush analyst R. Driscoll now anticipates that the biotechnology company will earn ($0.96) per share for the year, up from their previous forecast of ($1.02). Wedbush currently has a “Outperform” rating and a $26.00 target price on the stock. The consensus estimate for Alpine Immune Sciences’ current full-year earnings is ($1.24) per share. Wedbush also issued estimates for Alpine Immune Sciences’ Q2 2024 earnings at ($0.20) EPS, Q3 2024 earnings at ($0.21) EPS, Q4 2024 earnings at ($0.34) EPS, FY2024 earnings at ($0.96) EPS, FY2025 earnings at ($1.38) EPS and FY2026 earnings at ($1.49) EPS.

Alpine Immune Sciences (NASDAQ:ALPN) last released its quarterly earnings results on Monday, August 14th. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.11. The company had revenue of $8.59 million for the quarter, compared to analysts’ expectations of $8.08 million. Alpine Immune Sciences had a negative net margin of 185.10% and a negative return on equity of 33.53%.

Several other research firms have also recently commented on ALPN. Oppenheimer lifted their target price on shares of Alpine Immune Sciences from $14.00 to $22.00 and gave the stock an “outperform” rating in a research note on Monday, September 11th. Royal Bank of Canada upped their target price on Alpine Immune Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Morgan Stanley raised their price target on Alpine Immune Sciences from $17.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, November 3rd. Berenberg Bank began coverage on shares of Alpine Immune Sciences in a research note on Tuesday, October 17th. They set a “buy” rating and a $18.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $17.00 price objective on shares of Alpine Immune Sciences in a report on Wednesday, September 13th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $21.43.

Alpine Immune Sciences Price Performance

NASDAQ:ALPN opened at $12.66 on Friday. Alpine Immune Sciences has a 1-year low of $5.81 and a 1-year high of $16.26. The firm has a 50 day simple moving average of $11.47 and a 200-day simple moving average of $11.24.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALPN. Bank of New York Mellon Corp grew its stake in shares of Alpine Immune Sciences by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 92,723 shares of the biotechnology company’s stock valued at $1,062,000 after buying an additional 1,216 shares in the last quarter. Royal Bank of Canada grew its position in Alpine Immune Sciences by 99.1% in the second quarter. Royal Bank of Canada now owns 2,642 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 1,315 shares in the last quarter. American International Group Inc. grew its position in Alpine Immune Sciences by 26.8% in the second quarter. American International Group Inc. now owns 7,310 shares of the biotechnology company’s stock valued at $62,000 after acquiring an additional 1,543 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Alpine Immune Sciences by 23.4% during the first quarter. JPMorgan Chase & Co. now owns 8,947 shares of the biotechnology company’s stock valued at $80,000 after purchasing an additional 1,697 shares during the period. Finally, California State Teachers Retirement System lifted its position in shares of Alpine Immune Sciences by 20.0% during the second quarter. California State Teachers Retirement System now owns 10,559 shares of the biotechnology company’s stock worth $109,000 after purchasing an additional 1,763 shares in the last quarter. 75.17% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alpine Immune Sciences

In other Alpine Immune Sciences news, insider James Paul Rickey sold 18,003 shares of Alpine Immune Sciences stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $16.03, for a total transaction of $288,588.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 42.30% of the company’s stock.

About Alpine Immune Sciences

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.