ALPN - Alpine Immune wins bullish views at Morgan Stanley on lead program
- The shares of oncology-focused biotech Alpine Immune Sciences ( NASDAQ: ALPN ) gained Thursday after Morgan Stanley initiated its coverage with an Overweight recommendation citing its lead program ALPN-303, targeted at autoimmune and inflammatory indications.
- The analyst Michael E Ulz who issues a $17 price target on ALPN, thinks that ALPN-303 is “underappreciated” and the company’s partnerships with AbbVie ( ABBV ) and Adaptimmune Therapeutics ( ADAP ) “validate” its potential.
- Data expected in H2 2023 for ALPN-303 could de-risk its path towards other conditions, such as IgA nephropathy (IgAN), and leads to further gains, Ulz added. The analyst predicts ALPN-303 could undergo a Phase 2 trial for systemic lupus erythematosus in H2 2023, with data expected in 2026.
- In November, Alpine Immune ( ALPN ) announced plans to run a proof-of-concept Phase 2 study for ALPN-303 in SLE and basket studies in renal and hematologic autoimmune diseases. Initial results from the basket studies are expected in late 2023.
- In a bullish thesis on Alpine Immune ( ALPN ) in October, Seeking Alpha contributor True Orion highlighted the multi-use profile of ALPN-303.
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Alpine Immune wins bullish views at Morgan Stanley on lead program