11:48 AM EDT, 03/19/2024 (MT Newswires) -- (Adds price movement in the lead, last paragraph, analyst actions in the fourth paragraph).

Alpine Immune Sciences ( ALPN ) rose sharply in recent Tuesday trading after narrowing its 2023 loss, prompting several analysts to raise their price targets for the immunotherapy company's shares.

Late Monday, Alpine reported a 2023 loss of $0.64 per diluted share, more than halving its $1.73 loss a year earlier. Revenue rose to $58.9 million from $30.1 million a year ago.

Analysts had been expecting a $1.07 per share loss on revenue of $35.7 million, according to a Capital IQ polling.

Following the better-than-expected results, HC Wainwright raised its price target to $50 from $32 previously, Oppenheimer to $44 from $33, and Morgan Stanley to $47 from $30.

Alpine shares gained more than 14% in recent trading, easing slightly from a nearly 17% advance to a new 52-week high of $41.36 a share earlier in the session.

Price: 40.53, Change: +5.06, Percent Change: +14.25