Oppenheimer analyst Mark Breidenbach maintained a Buy rating on Alpine Immune Sciences Inc (ALPN) yesterday and set a price target of $13. The company’s shares closed yesterday at $6.23.
Breidenbach said:
“Thursday, Alpine Immune reported 1Q earnings and reviewed recent progress. Marking an important transition to clinical stage, healthy volunteers (HV) are being dosed with ALPN-101, the company’s dual CD28/ICOS antagonist, in a Phase 1 trial. ALPN-101 is a first-in-class molecule that leverages Alpine’s variant Ig domain (vIgD) scaffolding to target multiple immune pathways simultaneously. If proven safe in HVs, we believe ALPN-101 could be evaluated in a range of autoimmune disorders, starting with graft-versus-host disease (GVHD). Separately, Alpine is advancing an IND for ALPN-202, and could initiate a trial in early 2020. We estimate Alpine’s cash runway extends through late 2020, potentially allowing for the company to generate convincing proof-of-concept for its lead programs. Reiterate Outperform, $13 PT.”
According to TipRanks.com, Breidenbach is a 2-star analyst with an average return of 0.0% and a 41.5% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Global Blood Therapeutics, and Allogene Therapeutics Inc.
Alpine Immune Sciences Inc has an analyst consensus of Moderate Buy, with a price target consensus of $13.
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The company has a one-year high of $10.57 and a one-year low of $3.66. Currently, Alpine Immune Sciences Inc has an average volume of 15.68K.
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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.
