Alder BioPharmaceuticals (ALDR) Lifted to Sell at BidaskClub

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.

A number of other equities research analysts also recently issued reports on ALDR. ValuEngine upgraded Alder BioPharmaceuticals from a strong sell rating to a sell rating in a research note on Saturday, September 30th. Mizuho restated a buy rating and set a $32.00 price target on shares of Alder BioPharmaceuticals in a research note on Wednesday, November 8th. Cowen assumed coverage on Alder BioPharmaceuticals in a research note on Tuesday, September 26th. They set an outperform rating and a $20.00 price target for the company. Canaccord Genuity assumed coverage on Alder BioPharmaceuticals in a research note on Thursday, October 26th. They set a buy rating and a $20.00 price target for the company. Finally, Royal Bank of Canada assumed coverage on Alder BioPharmaceuticals in a research note on Thursday, September 14th. They set an outperform rating and a $17.00 price target for the company. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $27.93.

Alder BioPharmaceuticals (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 firm 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 for the quarter, topping the Zacks’ consensus estimate of ($1.21) by $0.29. During the same period in the previous year, the business posted ($0.70) earnings per share. analysts anticipate that Alder BioPharmaceuticals will post -5.14 earnings per share for the current year.

In related news, insider Mark James Litton sold 16,519 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $10.80, for a total value of $178,405.20. Following the transaction, the insider now directly owns 116,451 shares of the company’s stock, valued at approximately $1,257,670.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 10.60% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Alder BioPharmaceuticals by 5.5% during the 2nd quarter. Vanguard Group Inc. now owns 3,626,573 shares of the biopharmaceutical company’s stock worth $41,525,000 after acquiring an additional 187,871 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Alder BioPharmaceuticals during the 2nd quarter worth approximately $36,956,000. Redmile Group LLC raised its holdings in shares of 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 in the last quarter. State Street Corp raised its holdings in shares of 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 in the last quarter. Finally, BB Biotech AG raised its holdings in shares of Alder BioPharmaceuticals by 15.2% during the 2nd quarter. BB Biotech AG now owns 1,941,008 shares of the biopharmaceutical company’s stock worth $22,225,000 after acquiring an additional 255,858 shares in the last quarter. 96.80% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Alder BioPharmaceuticals (NASDAQ:ALDR)

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