Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) – Research analysts at Leerink Swann cut their Q1 2018 earnings estimates for Alder BioPharmaceuticals in a research report issued to clients and investors on Monday. Leerink Swann analyst P. Matteis now anticipates that the biopharmaceutical company will post earnings of ($1.38) per share for the quarter, down from their prior estimate of ($1.00). Leerink Swann also issued estimates for Alder BioPharmaceuticals’ Q3 2018 earnings at ($0.91) EPS, Q4 2018 earnings at ($0.84) EPS, FY2018 earnings at ($4.16) EPS and FY2019 earnings at ($3.90) EPS.
Alder BioPharmaceuticals (NASDAQ:ALDR) last posted its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.92) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.21) by $0.29. During the same quarter in the previous year, the business posted ($0.70) earnings per share.
Other analysts also recently issued research reports about the stock. Mizuho reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Alder BioPharmaceuticals in a research report on Friday, September 15th. ValuEngine raised shares of Alder BioPharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 30th. Cowen initiated coverage on shares of Alder BioPharmaceuticals in a research report on Tuesday, September 26th. They issued an “outperform” rating and a $20.00 price objective for the company. BidaskClub downgraded shares of Alder BioPharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 19th. Finally, Canaccord Genuity initiated coverage on shares of Alder BioPharmaceuticals in a research report on Thursday, October 26th. They issued a “buy” rating and a $20.00 price objective for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $27.79.
Alder BioPharmaceuticals (ALDR) traded down $0.05 during midday trading on Thursday, reaching $17.30. 91,099 shares of the company traded hands, compared to its average volume of 1,230,000. Alder BioPharmaceuticals has a 52-week low of $8.60 and a 52-week high of $25.45. The stock has a market capitalization of $1,170.00, a price-to-earnings ratio of -3.22 and a beta of 2.48.
In other news, insider Mark James Litton sold 16,519 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $10.80, for a total transaction of $178,405.20. Following the completion of the sale, the insider now owns 116,451 shares of the company’s stock, valued at $1,257,670.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 10.60% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Redmile Group LLC grew its position in shares of Alder BioPharmaceuticals by 16.4% during the second quarter. Redmile Group LLC now owns 2,223,811 shares of the biopharmaceutical company’s stock worth $25,463,000 after buying an additional 313,925 shares in the last quarter. Pinnacle Associates Ltd. acquired a new stake in shares of Alder BioPharmaceuticals during the third quarter worth approximately $14,823,000. Asymmetry Capital Management L.P. grew its position in shares of Alder BioPharmaceuticals by 320.1% during the second quarter. Asymmetry Capital Management L.P. now owns 166,752 shares of the biopharmaceutical company’s stock worth $1,909,000 after buying an additional 127,056 shares in the last quarter. Citigroup Inc. grew its position in shares of Alder BioPharmaceuticals by 285.7% during the second quarter. Citigroup Inc. now owns 33,433 shares of the biopharmaceutical company’s stock worth $383,000 after buying an additional 24,765 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Alder BioPharmaceuticals by 3,084.7% during the second quarter. JPMorgan Chase & Co. now owns 235,603 shares of the biopharmaceutical company’s stock worth $2,697,000 after buying an additional 228,205 shares in the last quarter. 96.80% of the stock is 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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