Alder BioPharmaceuticals (ALDR) Upgraded by ValuEngine to “Sell”

ValuEngine upgraded shares of Alder BioPharmaceuticals (NASDAQ:ALDR) from a strong sell rating to a sell rating in a report published on Wednesday morning.

A number of other analysts also recently issued reports on the stock. Needham & Company LLC reaffirmed a buy rating and set a $26.00 price objective on shares of Alder BioPharmaceuticals in a report on Wednesday. Canaccord Genuity reaffirmed a buy rating and set a $20.00 price objective on shares of Alder BioPharmaceuticals in a report on Wednesday. BMO Capital Markets set a $21.00 price objective on shares of Alder BioPharmaceuticals and gave the stock a buy rating in a report on Wednesday. Zacks Investment Research downgraded shares of Alder BioPharmaceuticals from a hold rating to a sell rating in a report on Tuesday, May 1st. Finally, Goldman Sachs began coverage on shares of Alder BioPharmaceuticals in a report on Tuesday, April 24th. They set a neutral rating and a $17.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $26.77.

Shares of Alder BioPharmaceuticals traded up $0.05 during mid-day trading on Wednesday, according to Marketbeat Ratings. 13,985 shares of the company were exchanged, compared to its average volume of 910,563. Alder BioPharmaceuticals has a 52 week low of $14.60 and a 52 week high of $14.80. The company has a market capitalization of $949.90 million, a P/E ratio of -2.97 and a beta of 2.52.

Alder BioPharmaceuticals (NASDAQ:ALDR) last posted its quarterly earnings data on Tuesday, May 8th. The biopharmaceutical company reported ($1.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.50). sell-side analysts predict that Alder BioPharmaceuticals will post -4.25 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. Candriam Luxembourg S.C.A. increased its position in shares of Alder BioPharmaceuticals by 74.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 176,000 shares of the biopharmaceutical company’s stock valued at $2,235,000 after acquiring an additional 75,000 shares during the period. Bellevue Group AG increased its position in shares of Alder BioPharmaceuticals by 2,189.1% in the first quarter. Bellevue Group AG now owns 700,464 shares of the biopharmaceutical company’s stock valued at $8,896,000 after acquiring an additional 669,864 shares during the period. Neuburgh Advisers LLC purchased a new position in shares of Alder BioPharmaceuticals in the first quarter valued at about $121,000. Tiverton Asset Management LLC purchased a new position in shares of Alder BioPharmaceuticals in the first quarter valued at about $535,000. Finally, State of Wisconsin Investment Board increased its position in shares of Alder BioPharmaceuticals by 82.6% in the first quarter. State of Wisconsin Investment Board now owns 63,900 shares of the biopharmaceutical company’s stock valued at $812,000 after acquiring an additional 28,900 shares during the period. Institutional investors own 96.20% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Alder BioPharmaceuticals (NASDAQ:ALDR)

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