Alpine Immune Sciences price target raised to $44 from $33 at Oppenheimer

Oppenheimer raised the firm’s price target on Alpine Immune Sciences to $44 from $33 given belief in povetacicept’s best-in-class potential, while keeping an Outperform rating on the shares. Alpine shares have rallied since povetacicept’s initial data in November. Despite that, management’s commentary continues to be bullish, no doubt bolstering the recent run, the firm notes. An important update from RUBY-3 is slated for presentation at WCN. Bottom line, Oppenheimer thinks investors want reassurances that November’s cut wasn’t a fluke, and given what Vera showed in January, the onus is now on Alpine to show eGFR stabilization. The firm believes they will.