Morgan Stanley raised the firm’s price target on Alpine Immune Sciences to $47 from $30 and keeps an Overweight rating on the shares. Q4 results highlighted continued progress for povetacicept and multiple 2024 catalysts are on track, beginning with updated RUBY-3 data for povetacicept in immunoglobulin A nephropathy, or IgAN, that are expected at the WCN meeting on April 15, the analyst tells investors. The firm continues to believe povetacicept has best-in-class profile in IgAN and broad potential in other autoimmune indications, the analyst added.
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