Alder Biopharmaceuticals (ALDR) Downgraded to “Hold” at BidaskClub

Alder Biopharmaceuticals (NASDAQ:ALDR) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

A number of other equities research analysts have also recently commented on the stock. ValuEngine raised shares of Alder Biopharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, June 5th. Mizuho reissued a “buy” rating and set a $29.00 target price on shares of Alder Biopharmaceuticals in a research report on Thursday, June 7th. Canaccord Genuity set a $20.00 target price on shares of Alder Biopharmaceuticals and gave the company a “buy” rating in a research report on Thursday, June 7th. Leerink Swann reissued an “outperform” rating on shares of Alder Biopharmaceuticals in a research report on Sunday, March 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $26.00 target price on shares of Alder Biopharmaceuticals in a research report on Wednesday, May 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $26.33.

Shares of Alder Biopharmaceuticals opened at $16.15 on Tuesday, Marketbeat Ratings reports. The stock has a market cap of $1.14 billion, a P/E ratio of -3.26 and a beta of 2.58. Alder Biopharmaceuticals has a 12 month low of $8.60 and a 12 month high of $19.97. The company has a debt-to-equity ratio of 0.57, a quick ratio of 13.30 and a current ratio of 13.31.

Alder Biopharmaceuticals (NASDAQ:ALDR) last issued its quarterly earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($1.73) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.50). equities analysts forecast that Alder Biopharmaceuticals will post -4.97 EPS for the current year.

In other Alder Biopharmaceuticals news, insider Mark James Litton sold 22,727 shares of the firm’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $17.84, for a total value of $405,449.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey T. L. Smith sold 12,161 shares of the firm’s stock in a transaction on Friday, June 1st. The stock was sold at an average price of $17.85, for a total transaction of $217,073.85. Following the completion of the transaction, the director now directly owns 7,952 shares of the company’s stock, valued at approximately $141,943.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,049 shares of company stock valued at $805,303. Corporate insiders own 17.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Redmile Group LLC raised its holdings in shares of Alder Biopharmaceuticals by 0.4% in the fourth quarter. Redmile Group LLC now owns 6,505,766 shares of the biopharmaceutical company’s stock worth $74,491,000 after buying an additional 29,000 shares during the last quarter. Foresite Capital Management III LLC raised its stake in shares of Alder Biopharmaceuticals by 3.3% in the 1st quarter. Foresite Capital Management III LLC now owns 2,942,130 shares of the biopharmaceutical company’s stock valued at $37,365,000 after acquiring an additional 95,000 shares during the period. Palo Alto Investors LP raised its stake in shares of Alder Biopharmaceuticals by 0.5% in the 1st quarter. Palo Alto Investors LP now owns 1,849,832 shares of the biopharmaceutical company’s stock valued at $23,493,000 after acquiring an additional 9,586 shares during the period. Palo Alto Investors LLC raised its stake in shares of Alder Biopharmaceuticals by 2,757.5% in the 4th quarter. Palo Alto Investors LLC now owns 1,840,246 shares of the biopharmaceutical company’s stock valued at $21,071,000 after acquiring an additional 1,775,846 shares during the period. Finally, Foresite Capital Management II LLC raised its stake in shares of Alder Biopharmaceuticals by 57.9% in the 1st quarter. Foresite Capital Management II LLC now owns 1,686,220 shares of the biopharmaceutical company’s stock valued at $21,415,000 after acquiring an additional 618,388 shares during the period.

About Alder Biopharmaceuticals

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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