Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) – Equities researchers at Leerink Swann lifted their FY2017 earnings per share estimates for shares of Alder BioPharmaceuticals in a report released on Tuesday. Leerink Swann analyst P. Matteis now forecasts that the biopharmaceutical company will post earnings of ($5.18) per share for the year, up from their previous forecast of ($5.45). Leerink Swann also issued estimates for Alder BioPharmaceuticals’ Q4 2017 earnings at ($0.96) EPS and FY2018 earnings at ($3.62) EPS.
Alder BioPharmaceuticals (NASDAQ:ALDR) last issued its quarterly earnings data 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 previous year, the firm earned ($0.70) EPS.
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ALDR has been the topic of several 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 target price on Alder BioPharmaceuticals and gave the company a “buy” rating in a research report on Monday, July 17th. Zacks Investment Research downgraded Alder BioPharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. BMO Capital Markets reissued an “outperform” rating and set a $27.00 target price (down previously from $39.00) on shares of Alder BioPharmaceuticals in a research report on Wednesday, August 9th. Finally, Credit Suisse Group set a $11.00 target price on Alder BioPharmaceuticals and gave the company a “hold” rating in a research report on Thursday, August 24th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $28.07.
Shares of Alder BioPharmaceuticals (NASDAQ ALDR) opened at $11.15 on Friday. Alder BioPharmaceuticals has a twelve month low of $8.60 and a twelve month high of $34.30.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in 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 acquiring an additional 187,871 shares during the last quarter. Janus Henderson Group PLC bought a new position in Alder BioPharmaceuticals in the 2nd quarter valued at $36,956,000. Redmile Group LLC grew its position in Alder BioPharmaceuticals by 16.4% in the 2nd quarter. Redmile Group LLC now owns 2,223,811 shares of the biopharmaceutical company’s stock valued at $25,463,000 after acquiring an additional 313,925 shares during the last quarter. State Street Corp grew its position in Alder BioPharmaceuticals by 9.4% in the 2nd quarter. State Street Corp now owns 1,944,755 shares of the biopharmaceutical company’s stock valued at $22,267,000 after acquiring an additional 167,642 shares during the last quarter. Finally, BB Biotech AG grew its position in Alder BioPharmaceuticals by 15.2% in the 2nd quarter. BB Biotech AG now owns 1,941,008 shares of the biopharmaceutical company’s stock valued at $22,225,000 after acquiring an additional 255,858 shares during the last quarter. 78.57% of the stock is currently owned by institutional investors.
In other Alder BioPharmaceuticals news, insider Mark James Litton sold 16,520 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $12.33, for a total value of $203,691.60. Following the transaction, the insider now owns 116,452 shares of the company’s stock, valued at approximately $1,435,853.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 10.60% of the company’s stock.
Alder BioPharmaceuticals Company Profile
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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