Leerink Swann Equities Analysts Cut Earnings Estimates for Alder Biopharmaceuticals Inc (ALDR)

Alder Biopharmaceuticals Inc (NASDAQ:ALDR) – Equities research analysts at Leerink Swann reduced their Q1 2018 earnings estimates for Alder Biopharmaceuticals in a research note issued on Monday, Zacks Investment Research reports. Leerink Swann analyst P. Matteis now expects that the biopharmaceutical company will earn ($1.38) per share for the quarter, down from their previous 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 issued its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.92) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.21) by $0.29. During the same quarter in the prior year, the company earned ($0.70) earnings per share.

A number of other analysts also recently commented on ALDR. ValuEngine downgraded shares of Alder Biopharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 18th. Canaccord Genuity assumed 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. Mizuho restated a “buy” rating and set a $32.00 price target on shares of Alder Biopharmaceuticals in a research report on Wednesday, November 8th. BidaskClub downgraded shares of Alder Biopharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 19th. Finally, BMO Capital Markets restated a “buy” rating and set a $22.00 price target on shares of Alder Biopharmaceuticals in a research report on Wednesday, January 3rd. Three equities 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 company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $27.93.

Shares of Alder Biopharmaceuticals (NASDAQ:ALDR) traded down $0.45 during trading hours on Thursday, reaching $13.75. 1,969,714 shares of the company traded hands, compared to its average volume of 2,133,918. The company has a market cap of $959.98 and a P/E ratio of -2.57. Alder Biopharmaceuticals has a 12-month low of $8.60 and a 12-month high of $25.45.

In other news, insider Mark James Litton sold 16,519 shares of Alder Biopharmaceuticals stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $10.80, for a total value of $178,405.20. Following the transaction, the insider now owns 116,451 shares of the company’s stock, valued at approximately $1,257,670.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in shares of Alder Biopharmaceuticals by 2.6% in the second quarter. Legal & General Group Plc now owns 15,496 shares of the biopharmaceutical company’s stock worth $177,000 after acquiring an additional 400 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of 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 worth $430,000 after acquiring an additional 698 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Alder Biopharmaceuticals by 8.4% in the second quarter. Voya Investment Management LLC now owns 22,304 shares of the biopharmaceutical company’s stock worth $255,000 after acquiring an additional 1,734 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Alder Biopharmaceuticals by 7.2% in the second quarter. Russell Investments Group Ltd. now owns 42,416 shares of the biopharmaceutical company’s stock worth $486,000 after acquiring an additional 2,837 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Alder Biopharmaceuticals by 3.8% in the second quarter. Teachers Advisors LLC now owns 84,705 shares of the biopharmaceutical company’s stock worth $970,000 after acquiring an additional 3,091 shares in the last quarter. 96.77% of the stock is currently 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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Earnings History and Estimates for Alder Biopharmaceuticals (NASDAQ:ALDR)

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