Canaccord Genuity set a $22.00 price target on Alder BioPharmaceuticals (NASDAQ:ALDR) in a research note published on Friday, MarketBeat reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
ALDR has been the subject of several other reports. BMO Capital Markets upped their price objective on Alder BioPharmaceuticals to $26.00 and gave the stock an outperform rating in a research report on Tuesday, January 9th. BidaskClub cut Alder BioPharmaceuticals from a sell rating to a strong sell rating in a research report on Tuesday, December 19th. Mizuho reaffirmed a buy rating and set a $29.00 price objective (down from $32.00) on shares of Alder BioPharmaceuticals in a research report on Tuesday, January 9th. Zacks Investment Research cut Alder BioPharmaceuticals from a hold rating to a sell rating in a research report on Thursday. Finally, Royal Bank of Canada started coverage on Alder BioPharmaceuticals in a research report on Thursday, September 14th. They set an outperform rating and a $17.00 price target for the company. Three research 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. Alder BioPharmaceuticals currently has an average rating of Buy and a consensus target price of $27.93.
Alder BioPharmaceuticals (NASDAQ ALDR) traded down $0.05 during mid-day trading on Friday, hitting $17.85. The stock had a trading volume of 1,437,000 shares, compared to its average volume of 2,473,333. The firm has a market capitalization of $1,211.00, a PE ratio of -3.33 and a beta of 2.48. Alder BioPharmaceuticals has a 52 week low of $8.60 and a 52 week high of $25.45.
Alder BioPharmaceuticals (NASDAQ:ALDR) last posted its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.92) earnings per share for the quarter, topping the consensus estimate of ($1.21) by $0.29. During the same period last year, the firm earned ($0.70) EPS. equities analysts predict that Alder BioPharmaceuticals will post -5.14 EPS for the current year.
In related news, insider Mark James Litton sold 16,519 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $10.80, for a total transaction of $178,405.20. Following the completion of the transaction, the insider now directly owns 116,451 shares of the company’s stock, valued at $1,257,670.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc raised its stake in Alder BioPharmaceuticals by 2.6% in the second quarter. Legal & General Group Plc now owns 15,496 shares of the biopharmaceutical company’s stock valued at $177,000 after buying an additional 400 shares during the period. The Manufacturers Life Insurance Company raised its stake in Alder BioPharmaceuticals by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 37,488 shares of the biopharmaceutical company’s stock valued at $430,000 after buying an additional 698 shares during the period. Voya Investment Management LLC raised its stake 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 buying an additional 1,734 shares during the period. Russell Investments Group Ltd. raised its stake in Alder BioPharmaceuticals by 7.2% in the second quarter. Russell Investments Group Ltd. now owns 42,416 shares of the biopharmaceutical company’s stock valued at $486,000 after buying an additional 2,837 shares during the period. Finally, Teachers Advisors LLC raised its stake in Alder BioPharmaceuticals by 3.8% in the second quarter. Teachers Advisors LLC now owns 84,705 shares of the biopharmaceutical company’s stock valued at $970,000 after buying an additional 3,091 shares during the period. 96.80% of the stock is owned by hedge funds and other institutional investors.
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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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