JPMorgan Chase & Co. Increases Alignment Healthcare (NASDAQ:ALHC) Price Target to $17.00

Alignment Healthcare (NASDAQ:ALHC) had its target price lifted by investment analysts at JPMorgan Chase & Co. from $14.00 to $17.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 10.07% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Piper Sandler upped their target price on Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Stephens reiterated an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a research report on Monday, February 24th. Bank of America boosted their target price on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research note on Tuesday. Finally, Stifel Nicolaus raised their price target on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Alignment Healthcare presently has an average rating of “Moderate Buy” and a consensus price target of $14.83.

Alignment Healthcare Price Performance

ALHC traded down $0.37 during midday trading on Thursday, reaching $15.45. 524,667 shares of the company’s stock were exchanged, compared to its average volume of 1,991,595. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $16.25. The stock has a market capitalization of $2.96 billion, a PE ratio of -20.06 and a beta of 1.50. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The business’s 50-day moving average price is $13.80 and its 200 day moving average price is $12.12.

Insider Transactions at Alignment Healthcare

In related news, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $11.65, for a total value of $1,048,500.00. Following the transaction, the chief executive officer now owns 2,363,100 shares in the company, valued at approximately $27,530,115. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Sebastian Burzacchi sold 8,550 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $11.26, for a total value of $96,273.00. Following the sale, the chief operating officer now owns 217,395 shares of the company’s stock, valued at $2,447,867.70. This represents a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 378,428 shares of company stock worth $5,009,324 in the last three months. Company insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ALHC. R Squared Ltd acquired a new stake in shares of Alignment Healthcare in the fourth quarter worth $55,000. RiverPark Advisors LLC acquired a new stake in Alignment Healthcare in the 4th quarter valued at $106,000. Tower Research Capital LLC TRC raised its position in Alignment Healthcare by 146.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock valued at $119,000 after purchasing an additional 6,286 shares during the period. Ballentine Partners LLC acquired a new position in shares of Alignment Healthcare during the fourth quarter worth about $121,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Alignment Healthcare in the fourth quarter worth about $129,000. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.