Alder BioPharmaceuticals (ALDR) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of Alder BioPharmaceuticals (NASDAQ:ALDR) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Other equities analysts have also recently issued research reports about the company. Mizuho reiterated a buy rating and set a $29.00 price objective on shares of Alder BioPharmaceuticals in a report on Wednesday, January 31st. Canaccord Genuity set a $22.00 price objective on Alder BioPharmaceuticals and gave the company a buy rating in a report on Friday, January 12th. BMO Capital Markets reiterated a buy rating and set a $22.00 price objective on shares of Alder BioPharmaceuticals in a report on Wednesday, January 3rd. ValuEngine cut Alder BioPharmaceuticals from a sell rating to a strong sell rating in a report on Friday, February 2nd. Finally, Leerink Swann reiterated an outperform rating on shares of Alder BioPharmaceuticals in a report on Sunday, March 4th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. Alder BioPharmaceuticals presently has an average rating of Buy and a consensus price target of $27.00.

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NASDAQ:ALDR opened at $14.55 on Friday. Alder BioPharmaceuticals has a fifty-two week low of $8.60 and a fifty-two week high of $22.50. The stock has a market cap of $997.32, a PE ratio of -2.94 and a beta of 2.53.

Alder BioPharmaceuticals (NASDAQ:ALDR) last released its quarterly earnings data on Monday, February 26th. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.03) by $0.23. The business had revenue of $0.94 million for the quarter. During the same quarter in the previous year, the business earned ($0.97) EPS. analysts forecast that Alder BioPharmaceuticals will post -4.25 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in ALDR. Bank of New York Mellon Corp raised its position in Alder BioPharmaceuticals by 35.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 315,156 shares of the biopharmaceutical company’s stock valued at $3,860,000 after buying an additional 82,869 shares during the last quarter. Ameriprise Financial Inc. raised its position in Alder BioPharmaceuticals by 38.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 857,871 shares of the biopharmaceutical company’s stock valued at $10,509,000 after buying an additional 237,933 shares during the last quarter. American International Group Inc. raised its position in Alder BioPharmaceuticals by 43.7% in the 3rd quarter. American International Group Inc. now owns 42,060 shares of the biopharmaceutical company’s stock valued at $515,000 after buying an additional 12,784 shares during the last quarter. JPMorgan Chase & Co. raised its position in Alder BioPharmaceuticals by 78.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 419,700 shares of the biopharmaceutical company’s stock valued at $4,806,000 after buying an additional 184,097 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Alder BioPharmaceuticals by 28.0% in the 3rd quarter. Wells Fargo & Company MN now owns 172,897 shares of the biopharmaceutical company’s stock valued at $2,117,000 after buying an additional 37,826 shares during the last quarter. 99.14% of the stock is currently owned by institutional investors and hedge funds.

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Alder BioPharmaceuticals Company Profile

Alder BioPharmaceuticals, Inc operates as a clinical-stage biopharmaceutical company. It discovers, develops, and commercializes therapeutic antibodies to transform the treatment paradigm for patients with migraine and other serious neurological or inflammatory conditions in the United States, Australia, and Ireland.

Analyst Recommendations for Alder BioPharmaceuticals (NASDAQ:ALDR)

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