BidaskClub upgraded shares of Alder BioPharmaceuticals (NASDAQ:ALDR) from a strong sell rating to a sell rating in a research note issued to investors on Friday, December 29th.
ALDR has been the topic of several other reports. Mizuho reissued a buy rating and set a $32.00 price objective on shares of Alder BioPharmaceuticals in a research note on Friday, September 15th. ValuEngine upgraded Alder BioPharmaceuticals from a strong sell rating to a sell rating in a research report on Saturday, September 30th. Cowen assumed coverage on Alder BioPharmaceuticals in a report on Tuesday, September 26th. They issued an outperform rating and a $20.00 price target for the company. Canaccord Genuity assumed coverage on Alder BioPharmaceuticals in a report on Thursday, October 26th. They issued a buy rating and a $20.00 price target for the company. Finally, Royal Bank of Canada started coverage on Alder BioPharmaceuticals in a report on Thursday, September 14th. They issued an outperform rating and a $17.00 price target for the company. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $27.93.
Alder BioPharmaceuticals (NASDAQ:ALDR) opened at $17.85 on Friday. Alder BioPharmaceuticals has a 52-week low of $8.60 and a 52-week high of $25.45. The company has a market capitalization of $1,210.00, a PE ratio of -3.32 and a beta of 2.48.
Alder BioPharmaceuticals (NASDAQ:ALDR) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.92) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.21) by $0.29. During the same period in the prior year, the firm earned ($0.70) earnings per share. analysts forecast that Alder BioPharmaceuticals will post -5.14 EPS for the current fiscal year.
In other Alder BioPharmaceuticals news, insider Mark James Litton sold 16,519 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $10.80, for a total transaction of $178,405.20. Following the sale, the insider now directly owns 116,451 shares of the company’s stock, valued at approximately $1,257,670.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.60% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of ALDR. Dimensional Fund Advisors LP purchased a new stake in shares of Alder BioPharmaceuticals during the 1st quarter worth about $564,000. Russell Investments Group Ltd. lifted its stake in Alder BioPharmaceuticals by 7.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 42,416 shares of the biopharmaceutical company’s stock valued at $486,000 after buying an additional 2,837 shares in the last quarter. TD Asset Management Inc. lifted its stake in Alder BioPharmaceuticals by 149.7% in the 2nd quarter. TD Asset Management Inc. now owns 42,700 shares of the biopharmaceutical company’s stock valued at $489,000 after buying an additional 25,600 shares in the last quarter. Rhumbline Advisers lifted its stake in Alder BioPharmaceuticals by 8.5% in the 2nd quarter. Rhumbline Advisers now owns 61,416 shares of the biopharmaceutical company’s stock valued at $703,000 after buying an additional 4,825 shares in the last quarter. Finally, State of Wisconsin Investment Board purchased a new position in Alder BioPharmaceuticals in the 2nd quarter valued at about $401,000. 96.80% of the stock is currently owned by institutional investors and hedge funds.
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About Alder BioPharmaceuticals
Alder BioPharmaceuticals, Inc, is a clinical-stage biopharmaceutical company that discovers, develops and seeks to commercialize genetically engineered therapeutic antibodies with the potential to meaningfully transform current treatment paradigms. Alder’s lead pivotal-stage product candidate, eptinezumab, is being evaluated for migraine prevention.
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