Alpine Immune Sciences Analysts Boost Their Forecasts After Q4 Earnings
Portfolio Pulse from Avi Kapoor
Alpine Immune Sciences, Inc. (NASDAQ:ALPN) exceeded Q4 earnings expectations with a GAAP EPS of 15 cents against an expected loss of 29 cents and sales of $30.853 million versus the anticipated $9.104 million. The company highlighted significant progress in developing povetacicept for IgAN and other diseases, contributing to a 14.6% stock increase to $40.63. Analysts from HC Wainwright & Co., Oppenheimer, and Morgan Stanley subsequently raised their price targets for ALPN.
March 19, 2024 | 2:35 pm
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Alpine Immune Sciences reported impressive Q4 results, with earnings and sales far exceeding expectations. The development of povetacicept for IgAN and other diseases has been highlighted as a key growth driver, leading to a significant stock price increase and raised analyst price targets.
The substantial outperformance in Q4 earnings and sales, combined with positive developments in povetacicept for treating IgAN and other diseases, has significantly boosted investor confidence. This is reflected in the stock's 14.6% rise and the upward revision of price targets by prominent analysts, indicating a strong short-term bullish outlook for ALPN.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100