Alder Biopharmaceuticals (ALDR) Coverage Initiated by Analysts at Wells Fargo & Co

Wells Fargo & Co initiated coverage on shares of Alder Biopharmaceuticals (NASDAQ:ALDR) in a report published on Tuesday. The firm issued an outperform rating on the biopharmaceutical company’s stock.

A number of other analysts also recently commented on the stock. Cowen set a $23.00 target price on shares of Alder Biopharmaceuticals and gave the stock a buy rating in a report on Monday, November 5th. Cantor Fitzgerald set a $21.00 target price on shares of Alder Biopharmaceuticals and gave the stock a hold rating in a report on Tuesday. BidaskClub upgraded shares of Alder Biopharmaceuticals from a strong sell rating to a sell rating in a report on Saturday, November 3rd. ValuEngine upgraded shares of Alder Biopharmaceuticals from a hold rating to a buy rating in a report on Friday, October 26th. Finally, Zacks Investment Research downgraded shares of Alder Biopharmaceuticals from a buy rating to a hold rating in a report on Monday, October 22nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $21.67.

Shares of ALDR stock traded down $0.15 during midday trading on Tuesday, reaching $13.88. 706,563 shares of the company were exchanged, compared to its average volume of 800,551. Alder Biopharmaceuticals has a 12 month low of $9.55 and a 12 month high of $20.87. The company has a market capitalization of $996.89 million, a price-to-earnings ratio of -2.80 and a beta of 2.70. The company has a current ratio of 15.34, a quick ratio of 10.88 and a debt-to-equity ratio of 0.97.

Alder Biopharmaceuticals (NASDAQ:ALDR) last released its quarterly earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.91) EPS for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.22. On average, equities research analysts predict that Alder Biopharmaceuticals will post -4.47 earnings per share for the current year.

In other news, Director Jeffrey T. L. Smith sold 5,040 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $13.42, for a total transaction of $67,636.80. Following the sale, the director now owns 5,871 shares in the company, valued at $78,788.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John A. Latham sold 25,002 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $13.42, for a total transaction of $335,526.84. Following the sale, the insider now owns 250,514 shares in the company, valued at approximately $3,361,897.88. The disclosure for this sale can be found here. Insiders sold a total of 90,120 shares of company stock worth $1,407,922 over the last quarter. Insiders own 17.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ALDR. Dimensional Fund Advisors LP raised its holdings in shares of Alder Biopharmaceuticals by 39.2% during the first quarter. Dimensional Fund Advisors LP now owns 822,784 shares of the biopharmaceutical company’s stock valued at $10,449,000 after acquiring an additional 231,859 shares during the period. UBS Group AG raised its holdings in shares of Alder Biopharmaceuticals by 1,284.0% during the first quarter. UBS Group AG now owns 228,837 shares of the biopharmaceutical company’s stock valued at $2,906,000 after acquiring an additional 212,303 shares during the period. LPL Financial LLC acquired a new stake in shares of Alder Biopharmaceuticals during the first quarter valued at approximately $156,000. Legal & General Group Plc raised its holdings in shares of Alder Biopharmaceuticals by 31.1% during the first quarter. Legal & General Group Plc now owns 25,547 shares of the biopharmaceutical company’s stock valued at $324,000 after acquiring an additional 6,060 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of Alder Biopharmaceuticals by 68.6% during the first quarter. Royal Bank of Canada now owns 56,810 shares of the biopharmaceutical company’s stock valued at $721,000 after acquiring an additional 23,121 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.

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