Alpine Immune downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital analyst Gregory Renza downgraded Alpine Immune Sciences to Sector Perform from Outperform with a price target of $65, up from $41, after the company entered a definitive agreement to be acquired by Vertex Pharmaceuticals (VRTX) for $4.9B or $65 per share. With no pipeline overlapping, RBC sees a high likelihood of the deal closing.