ValuEngine lowered shares of Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday, October 18th.
ALDR has been the subject of a number of other research reports. BidaskClub raised Alder BioPharmaceuticals from a strong sell rating to a sell rating in a research report on Friday, August 25th. Needham & Company LLC set a $36.00 price objective on Alder BioPharmaceuticals and gave the stock a buy rating in a research report on Monday, July 17th. Zacks Investment Research cut Alder BioPharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, August 8th. Aegis reissued a buy rating and set a $41.00 price objective on shares of Alder BioPharmaceuticals in a research report on Wednesday, July 5th. Finally, BMO Capital Markets reissued an outperform rating and set a $27.00 price objective (down previously from $39.00) on shares of Alder BioPharmaceuticals in a research report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. Alder BioPharmaceuticals presently has a consensus rating of Buy and a consensus target price of $28.07.
Alder BioPharmaceuticals (ALDR) traded up 8.21% during midday trading on Wednesday, hitting $11.20. The stock had a trading volume of 1,263,486 shares. Alder BioPharmaceuticals has a 12-month low of $8.60 and a 12-month high of $34.30. The stock’s market cap is $758.39 million. The company’s 50-day moving average price is $11.34 and its 200 day moving average price is $13.86.
Alder BioPharmaceuticals (NASDAQ:ALDR) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.67) by $0.19. The company had revenue of $0.68 million during the quarter. During the same period in the prior year, the company earned ($0.79) earnings per share. Alder BioPharmaceuticals’s revenue was up 518.2% on a year-over-year basis. On average, equities research analysts predict that Alder BioPharmaceuticals will post ($5.60) earnings per share for the current fiscal year.
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In related news, insider Mark James Litton sold 16,520 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $12.33, for a total transaction of $203,691.60. Following the transaction, the insider now directly owns 116,452 shares in the company, valued at $1,435,853.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 10.60% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Janus Capital Management LLC grew its stake in shares of Alder BioPharmaceuticals by 4.7% in the 1st quarter. Janus Capital Management LLC now owns 5,167,085 shares of the biopharmaceutical company’s stock valued at $107,473,000 after purchasing an additional 230,044 shares during the period. Vanguard Group Inc. grew its stake in shares of Alder BioPharmaceuticals by 5.5% in the 2nd quarter. Vanguard Group Inc. now owns 3,626,573 shares of the biopharmaceutical company’s stock valued at $41,525,000 after purchasing an additional 187,871 shares during the period. Janus Henderson Group PLC bought a new stake in Alder BioPharmaceuticals during the 2nd quarter worth approximately $36,956,000. Redmile Group LLC grew its position in Alder BioPharmaceuticals by 16.4% during the 2nd quarter. Redmile Group LLC now owns 2,223,811 shares of the biopharmaceutical company’s stock worth $25,463,000 after acquiring an additional 313,925 shares during the last quarter. Finally, State Street Corp grew its position in Alder BioPharmaceuticals by 9.4% during the 2nd quarter. State Street Corp now owns 1,944,755 shares of the biopharmaceutical company’s stock worth $22,267,000 after acquiring an additional 167,642 shares during the last quarter. Institutional investors own 76.13% of the company’s stock.
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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