RBC Capital Starts Alpine Immune Sciences (ALPN) at Outperform, "Povetacicept could be competitively positioned"

RBC Capital analyst Gregory Renza initiates coverage on Alpine Immune Sciences (NASDAQ: ALPN) with a Outperform rating and a price target of $19.00.

The analyst comments: "Initiating coverage with an Outperform, Speculative Risk rating and a $19 price target. We see the autoimmune disease market ($165+B), as meaningful for ALPN's lead candidate - povetacicept. Povetacicept could be competitively positioned based on its dual and enhanced targeting of BAFF and APRIL, two validated autoimmune targets, and its preclinical POC. We look to RUBY-3 data update at the American Society of Nephrology (ASN; Nov. 2-5) where we expect an early clinical profile of povetacicept in Ig-Nephropathy (IgAN) as a potential de-risking event. We also note the active clinical development of povetacicept in other autoimmune kidney diseases, cytopenias and SLE/lupus, and ALPN's collaborations with ABBV (acazicolcept in lupus), HZNP, and ADAP as potential value driver options for shares."

For an analyst ratings summary and ratings history on Alpine Immune Sciences click here. For more ratings news on Alpine Immune Sciences click here.

Shares of Alpine Immune Sciences closed at $11.70 yesterday.

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