Wolfe Unleashes Positive Ratings for Alpine Immune Services

Wolfe has kicked off its coverage of Alpine Immune Services (NASDAQ:ALPN) with an outperform rating, highlighting forthcoming catalysts in 2024.

The investment firm underscores that Alpine is poised for success with two significant opportunities this year: Phase 2b results for catalystin in mid-2024, assigned a 70% probability of success by Wolfe, and a continuous upward trend in market appreciation for its oral dermatology products, culminating in growing revenue for Dupixent/Rinvoq.

Furthermore, Wolfe asserts that the company’s Alzheimer’s drug, zel, may potentially become a blockbuster without a strong efficacy proof. If it does demonstrate strong efficacy, it could potentially lead to the displacement of market leaders in AD and make inroads into adjacent indications, according to Wolfe.

Wolfe has set its price target for the stock at $39.