Selected stock price target news of the day - March 19th, 2024

By: Matthew Otto

Alpine Immune Sciences Reports Financial Growth in 2023: Collaboration Revenue Soars

Alpine Immune Sciences disclosed its full-year 2023 financial results, highlighting an increase in collaboration revenue, which surged to $58.9 million. This represents more than a 95% rise from the previous year’s figure of $30.1 million. This was fueled by a $24.9 million uptick in AbbVie revenue, with $20.4 million stemming from a cumulative catch-up adjustment following the completion of enrollment in Synergy. Moreover, Amgen revenue witnessed a $4.5 million increase, attributed primarily to the expiration of Amgen’s option to select a third Research Program.

Research and development costs rose by $10.7 million to reach $80.9 million, primarily driven by an $8.2 million escalation in povetacicept expenses, including higher clinical trial costs, process development, and manufacturing expenses. Additionally, personnel costs saw an increase of $7.7 million.

General and administrative expenses surged by $4.3 million to total $22.2 million for the year, primarily due to hikes in personnel costs and professional services. Notwithstanding the increased expenditures, Alpine’s net loss for 2023 narrowed to $32.2 million, marking an improvement from the $57.8 million loss reported in 2022.

Alpine’s cash and investments position stood at $368.2 million as of December 31, 2023, an increase from the $273.4 million recorded at the close of the previous year.

Analysts Remain Bullish, Adjust Price Targets Upwards

Wedbush analyst Robert Driscoll reiterated an Outperform rating and a $47 price target.
Oppenheimer analyst Matthew Biegler reiterated an Outperform rating and raised the price target from $33 to $44.
Oppenheimer analyst Justin Kim maintained an Outperform rating and increased the price target from $33 to $44.
HC Wainwright & Co. analyst Joseph Pantginis maintained a Buy rating and increased the price target from $32 to $50.
Morgan Stanley analyst Michael Ulz raised the price target to $47.

Which Analyst has the best track record to show on ALPN?

Analyst Gregory Renza (RBC) currently has the highest performing score on ALPN with 3/3 (100%) price target fulfillment ratio. His price targets carry an average of $9.5 (48.72%) potential upside. Alpine Immune Sciences stock price reaches these price targets on average within 64 days.

Blend’s Fourth Quarter 2023 Financial Performance and Resilience Amidst Market Challenges

Blend shared financial insights during its Fourth Quarter 2023 Earnings Conference Call. Nima Ghamsari, Co-Founder, expected $50 million annual revenue run rate for the Consumer Banking suite. Ghamsari also noted a pipeline of 70 opportunities. In the Mortgage sector, Blend reported $17.2 million in revenue, showcasing a $91 increase in mortgage suite economic value per funded loan compared to the previous year.

Blend operating expenses slashed by over $90 million in 2023, culminating in a non-GAAP loss from operations of $13.1 million for the quarter. Total company revenues of $36.1 million, with a non-GAAP gross profit of $19.9 million. Looking ahead, Blend projects Platform revenue between $22 million and $24 million for Q1 2024, with a total revenue outlook of $32.5 million to $35.5 million.

Analysts Raise Price Targets Following Q4 2023 Earnings

Canaccord Genuity analyst Joseph Vafi maintained a Hold rating and raised the price target from $2 to $3.
Keefe, Bruyette & Woods analyst Jones William reiterated a Market Perform rating and increased the price target from $1.85 to $2.65.

Which Analyst has the best track record to show on BLND?

Analyst Michael Turrin (WELLS FARGO) currently has the highest performing score on BLND with 7/10 (70%) price target fulfillment ratio. His price targets carry an average of $0.07 (4.90%) potential upside. Blend Labs stock price reaches these price targets on average within 90 days.

National CineMedia Surges on Record Quarterly Earnings and Optimistic Outlook

National CineMedia released its fourth-quarter financial results, showcasing growth driven by movie demand and increased advertising expenditure. B. Riley analyst Eric Wold upgraded NCM shares to Buy from Neutral and raised the price target to $6.75 from $4.50. The company reported fourth-quarter earnings of 24 cents per share, surpassing analyst estimates of 9 cents per share, while generating revenue of $90.9 million, marking an increase from the projected $81.1 million according to FactSet. Notably, NCM achieved a revenue per patron of $1.07.

Looking forward, first-quarter revenue forecast ranged between $34.5 million to $35.5 million, surpassing Wall Street’s estimate of $34.2 million. Moreover, NCM’s announcement of a $100 million share repurchase program underscores its commitment to enhancing shareholder value amidst ongoing uncertainties.

Analyst Mixed Assessments Amidst Price Target Adjustments

Wedbush analyst Michael Pachter maintained a Neutral rating and raised the price target from $4.50 to $5.50.
B. Riley Securities analyst Eric Wold upgraded from Neutral to Buy and the price target from $4.50 to $6.75.

Which Analyst has the best track record to show on NCMI?

Analyst Mike Hickey (BENCHMARK) currently has the highest performing score on NCMI with 2/5 (40%) price target fulfillment ratio. His price targets carry an average of $1.25 (26.32%) potential upside. National CineMedia stock price reaches these price targets on average within 8 days.