Alder Biopharmaceuticals Inc (ALDR) Receives $23.00 Consensus Target Price from Analysts

Alder Biopharmaceuticals Inc (NASDAQ:ALDR) has been assigned an average recommendation of “Buy” from the thirteen ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $23.00.

A number of research analysts have recently commented on the company. ValuEngine upgraded Alder Biopharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, June 5th. BidaskClub upgraded Alder Biopharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 5th. Mizuho reiterated a “buy” rating and issued a $29.00 price objective on shares of Alder Biopharmaceuticals in a report on Thursday, June 7th. Canaccord Genuity set a $20.00 price objective on Alder Biopharmaceuticals and gave the company a “buy” rating in a report on Thursday, June 7th. Finally, Needham & Company LLC began coverage on Alder Biopharmaceuticals in a report on Wednesday, June 27th. They issued a “buy” rating and a $28.00 price objective on the stock.

Shares of Alder Biopharmaceuticals opened at $15.80 on Friday, according to MarketBeat. Alder Biopharmaceuticals has a 1-year low of $8.60 and a 1-year high of $19.35. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -3.19 and a beta of 2.60. The company has a current ratio of 13.31, a quick ratio of 13.30 and a debt-to-equity ratio of 0.57.

Alder Biopharmaceuticals (NASDAQ:ALDR) last released its quarterly earnings data on Tuesday, May 8th. The biopharmaceutical company reported ($1.73) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.50). research analysts expect that Alder Biopharmaceuticals will post -4.97 earnings per share for the current fiscal year.

In related news, insider Jeffrey T. L. Smith sold 12,161 shares of Alder Biopharmaceuticals stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $15.03, for a total transaction of $182,779.83. Following the completion of the transaction, the insider now directly owns 5,871 shares of the company’s stock, valued at $88,241.13. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Mark James Litton sold 22,727 shares of Alder Biopharmaceuticals stock in a transaction on Friday, June 1st. The stock was sold at an average price of $17.84, for a total value of $405,449.68. The disclosure for this sale can be found here. Insiders have sold a total of 47,049 shares of company stock valued at $805,303 over the last ninety days. 17.40% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC increased its position in Alder Biopharmaceuticals by 14.1% during the first quarter. Cubist Systematic Strategies LLC now owns 27,614 shares of the biopharmaceutical company’s stock worth $351,000 after buying an additional 3,405 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its position in Alder Biopharmaceuticals by 9.3% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 41,120 shares of the biopharmaceutical company’s stock worth $470,000 after buying an additional 3,500 shares in the last quarter. New York State Common Retirement Fund increased its position in Alder Biopharmaceuticals by 7.2% during the first quarter. New York State Common Retirement Fund now owns 68,400 shares of the biopharmaceutical company’s stock worth $869,000 after buying an additional 4,600 shares in the last quarter. Bank of New York Mellon Corp increased its position in Alder Biopharmaceuticals by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 320,029 shares of the biopharmaceutical company’s stock worth $3,664,000 after buying an additional 4,873 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Alder Biopharmaceuticals by 31.1% during the first quarter. Legal & General Group Plc now owns 25,547 shares of the biopharmaceutical company’s stock worth $324,000 after buying an additional 6,060 shares in the last quarter.

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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