Alpine Immune Sciences Shares Rally After Vertex Agrees to Acquire Co.
By Stephen Nakrosis
Shares of Alpine Immune Sciences were trading sharply higher in Wednesday's after-hours market, following news Vertex Pharmaceuticals agreed to acquire the company in a $4.9 billion deal.
Alpine Immune shares were trading 37% higher in the late-trading market, at $64.34, just under the $65 a share offer from Vertex. The shares ended the day's regular trading with a 21% gain, closing at $47.04.
Earlier Wednesday, Alpine Immune shares hit their highest level since 2015 at $47.84 per share.
After the bell, shares of Vertex Pharmaceuticals has lost just over 1%, to trade at $393.24. They ended the day's regular session with a loss of 1.7%, to close at $397.58.
The deal was unanimously approved by the boards of both companies, and is expected to close later this quarter.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
April 10, 2024 17:40 ET (21:40 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
After Earnings, Is Alphabet Stock a Buy, a Sell, or Fairly Valued?
-
When Will the Fed Start Cutting Interest Rates?
-
What’s the Difference Between the CPI and PCE Indexes?
-
Powell Unfazed By Sticky Inflation, but Rate Cuts Are Far Off
-
After Earnings, Is Microsoft Stock a Buy, a Sell, or Fairly Valued?
-
Best- and Worst-Performing Stocks of April 2024
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Small-Cap and Value Stocks Are Undervalued
-
4 Utility Stocks to Play the AI Data Center Boom
-
Albemarle Earnings: We Expect Improved Results In the Rest of Year Following Cyclically Low Profits
-
Novo Nordisk Earnings: Raised Fair Value Estimate Still a Contrast to Market Overenthusiasm
-
After Earnings, Is Verizon Stock a Buy, a Sell, or Fairly Valued?
-
Look Inside Berkshire Hathaway’s Portfolio Before Its Annual Meeting
-
How to Invest Like Warren Buffett
-
Cognizant Earnings: Improved Profitability Buttresses Results as Customer Spending Remains Muted
-
10 Top-Performing Dividend Stocks of the Month