Alder Biopharmaceuticals (ALDR) Trading 5.1% Higher

Alder Biopharmaceuticals Inc (NASDAQ:ALDR) traded up 5.1% during mid-day trading on Wednesday . The stock traded as high as $14.90 and last traded at $14.55. 1,882,985 shares changed hands during trading, a decline of 7% from the average session volume of 2,023,274 shares. The stock had previously closed at $13.85.

A number of research analysts recently weighed in on ALDR shares. Canaccord Genuity set a $22.00 target price on shares of Alder Biopharmaceuticals and gave the company a “buy” rating in a research report on Friday, January 12th. Zacks Investment Research downgraded shares of Alder Biopharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, January 11th. BMO Capital Markets raised their target price on shares of Alder Biopharmaceuticals to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, January 9th. Mizuho reaffirmed a “buy” rating and issued a $29.00 target price (down previously from $32.00) on shares of Alder Biopharmaceuticals in a research report on Tuesday, January 9th. Finally, ValuEngine downgraded shares of Alder Biopharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Four research analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $27.93.

The firm has a market capitalization of $985.23, a PE ratio of -2.71 and a beta of 2.60.

Several institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in shares of Alder Biopharmaceuticals by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,488 shares of the biopharmaceutical company’s stock valued at $430,000 after acquiring an additional 698 shares during the period. Voya Investment Management LLC grew its position in shares of Alder Biopharmaceuticals by 8.4% in the 2nd quarter. Voya Investment Management LLC now owns 22,304 shares of the biopharmaceutical company’s stock valued at $255,000 after acquiring an additional 1,734 shares during the period. Teachers Advisors LLC grew its position in shares of Alder Biopharmaceuticals by 3.8% in the 2nd quarter. Teachers Advisors LLC now owns 84,705 shares of the biopharmaceutical company’s stock valued at $970,000 after acquiring an additional 3,091 shares during the period. Cornerstone Capital Management Holdings LLC. grew its position in shares of Alder Biopharmaceuticals by 9.3% in the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 41,120 shares of the biopharmaceutical company’s stock valued at $470,000 after acquiring an additional 3,500 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Alder Biopharmaceuticals by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 320,029 shares of the biopharmaceutical company’s stock valued at $3,664,000 after acquiring an additional 4,873 shares during the period. 95.34% of the stock is owned by 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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