BidaskClub cut shares of Alder BioPharmaceuticals (NASDAQ:ALDR) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday, December 19th.
Other equities research analysts have also recently issued research reports about the stock. Credit Suisse Group set a $11.00 target price on shares of Alder BioPharmaceuticals and gave the stock a hold rating in a research note on Thursday, August 24th. Canaccord Genuity started coverage on shares of Alder BioPharmaceuticals in a research report on Thursday, October 26th. They set a buy rating and a $20.00 price target on the stock. Royal Bank of Canada started coverage on shares of Alder BioPharmaceuticals in a research report on Thursday, September 14th. They set an outperform rating and a $17.00 price target on the stock. Cowen started coverage on shares of Alder BioPharmaceuticals in a research report on Tuesday, September 26th. They set an outperform rating and a $20.00 price target on the stock. Finally, Mizuho reissued a buy rating and set a $32.00 price target on shares of Alder BioPharmaceuticals in a research report on Wednesday, November 8th. Three analysts have rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $27.79.
Shares of Alder BioPharmaceuticals (ALDR) traded up $0.55 on Tuesday, reaching $17.90. 1,575,700 shares of the company’s stock traded hands, compared to its average volume of 2,602,860. Alder BioPharmaceuticals has a 52 week low of $8.60 and a 52 week high of $25.45. The firm has a market cap of $1,210.00, a PE ratio of -3.33 and a beta of 2.48.
Alder BioPharmaceuticals (NASDAQ:ALDR) last announced its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.21) by $0.29. During the same quarter last year, the firm posted ($0.70) EPS. sell-side analysts expect 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 business’s stock in a transaction dated Monday, November 13th. The shares were 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 in the company, valued at $1,257,670.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.60% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Quantitative Systematic Strategies LLC purchased a new stake in shares of Alder BioPharmaceuticals during the third quarter worth approximately $132,000. Jane Street Group LLC purchased a new stake in shares of Alder BioPharmaceuticals during the third quarter worth approximately $184,000. Legal & General Group Plc increased its stake in shares of Alder BioPharmaceuticals by 2.6% during the second quarter. Legal & General Group Plc now owns 15,496 shares of the biopharmaceutical company’s stock worth $177,000 after buying an additional 400 shares during the period. SG Americas Securities LLC increased its stake in shares of Alder BioPharmaceuticals by 109.4% during the second quarter. SG Americas Securities LLC now owns 15,580 shares of the biopharmaceutical company’s stock worth $178,000 after buying an additional 8,140 shares during the period. Finally, Voya Investment Management LLC boosted its holdings in Alder BioPharmaceuticals by 8.4% in the second quarter. Voya Investment Management LLC now owns 22,304 shares of the biopharmaceutical company’s stock valued at $255,000 after purchasing an additional 1,734 shares in the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.
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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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