Alpine Immune Sciences price target raised to $32 from $17 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Alpine Immune Sciences to $32 from $17 and keeps a Buy rating on the shares after Alpine announced an amendment to its options and license agreement with partner AbbVie (ABBV) to evaluate acazicolcept in those with moderate to severe systemic lupus erythematosus, or SLE. The firm’s updated target on Alpine shares is based on an adjustment to base year; adjustment to fully diluted share count; lowering its view of the probability of success of acazicolecept to 20% from 25% and raising it view of the probability of success of povetacicept to 35% from 25%.