Oppenheimer analyst Mark Breidenbach reiterated a Buy rating on Alpine Immune Sciences Inc (NASDAQ: ALPN) yesterday and set a price target of $13. The company’s shares closed yesterday at $6.85, close to its 52-week low of $6.77.
“Thursday, Alpine reported a 2Q net loss of $(0.57) per share, higher than our estimate of $(0.41). The company is preparing to file an IND for ALPN-101, a dual immune checkpoint modulator targeting both CD28 and ICOS that is based on the company’s variant immunoglobulin domain (vIgD) platform. We believe vIgD-based therapeutics, derived from the natural binding partners of immune checkpoints, could provide a versatile alternative to conventional bispecific antibodies with applications in oncology and autoimmune disease. The company remains on track to initiate a Phase 1 trial of a second vIgD-based product, ALNP-202, could enter the clinic in 2H19. With a cash runway projected to last until 1H20, we reiterate our Outperform rating and $13 PT.”
According to TipRanks.com, Breidenbach is a 4-star analyst with an average return of 9.7% and a 43.0% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Global Blood Therapeutics, and Sorrento Therapeutics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Alpine Immune Sciences Inc with a $13 average price target.
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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.