Alpine Is A Buy Ahead Of Clinical Trials, Wedbush Says In Positive Initiation
Wedbush analysts see an attractive entry point for Alpine Immune Sciences Inc. (NASDAQ: ALPN), as the biotech's initial candidates will enter the clinic over the next year.
The Analyst
Robert Driscoll of Wedbush initiated coverage on Apline with an Outperform rating and $13 price target.
The Thesis
Alpine’s “directed evolution” approach to multifunctional protein-based therapeutics could modulate immune synapse better than conventional immunotherapeutics for treatment of cancer and autoimmune or inflammatory diseases, Driscoll said in a note. (See the analyst's track record here.)
The company's variable immunoglobin domain platform uses directed evolution to create novel therapeutics and could have a broad utility across therapeutic modalities, the analyst said.
Alpine's ALPN-101 is expected to enter the clinic in the fourth quarter, Driscoll said.
“ALPN-101 has demonstrated compelling preclinical activity in multiple models of inflammation and autoimmune disease."
Another key asset is the ALPN-202 immuno-oncology program, which could prove to be a strong competitor, the analyst said.
“We see the targeting of multiple pathways with a single molecule as providing significant advantages over other I-O combination approaches in development, including selectivity, convenience and cost.”
Price Action
Alpine shares were rallying nearly 10 percent to $9.69 at the time of publication Friday afternoon.
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Latest Ratings for ALPN
Date | Firm | Action | From | To |
---|---|---|---|---|
Dec 2020 | HC Wainwright & Co. | Initiates Coverage On | Buy | |
Aug 2020 | Cowen & Co. | Initiates Coverage On | Outperform | |
Aug 2020 | Piper Sandler | Maintains | Overweight |
View More Analyst Ratings for ALPN
View the Latest Analyst Ratings
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