Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Friday.
A number of other research firms have also issued reports on ALDR. UBS AG assumed coverage on Alder BioPharmaceuticals in a research note on Friday, May 5th. They issued a “sell” rating and a $13.00 target price on the stock. Needham & Company LLC started coverage on Alder BioPharmaceuticals in a report on Monday, May 15th. They set a “buy” rating and a $36.00 price objective for the company. Leerink Swann restated an “outperform” rating and set a $32.00 price objective on shares of Alder BioPharmaceuticals in a report on Monday, June 12th. ValuEngine upgraded Alder BioPharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 20th. Finally, Credit Suisse Group downgraded Alder BioPharmaceuticals from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $30.00 to $17.00 in a report on Wednesday, June 28th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. Alder BioPharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $32.42.
Alder BioPharmaceuticals (NASDAQ:ALDR) opened at 9.35 on Friday. The firm has a 50-day moving average price of $10.40 and a 200 day moving average price of $17.41. Alder BioPharmaceuticals has a 12 month low of $8.60 and a 12 month high of $35.62. The stock’s market capitalization is $633.12 million.
Alder BioPharmaceuticals (NASDAQ:ALDR) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.48) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.67) by $0.19. The firm had revenue of $0.68 million for the quarter. Alder BioPharmaceuticals’s quarterly revenue was up 518.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.79) earnings per share. Equities analysts anticipate that Alder BioPharmaceuticals will post ($5.79) earnings per share for the current year.
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In other Alder BioPharmaceuticals news, Director Stephen M. Dow purchased 25,000 shares of the business’s stock in a transaction dated Tuesday, July 18th. The shares were acquired at an average price of $10.00 per share, for a total transaction of $250,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 10.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its position in Alder BioPharmaceuticals by 3,047.2% in the first quarter. Bank of Montreal Can now owns 5,602 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 5,424 shares in the last quarter. Stifel Financial Corp acquired a new position in Alder BioPharmaceuticals during the first quarter worth $206,000. Trexquant Investment LP acquired a new position in Alder BioPharmaceuticals during the first quarter worth $265,000. Legal & General Group Plc increased its position in Alder BioPharmaceuticals by 2.6% in the second quarter. Legal & General Group Plc now owns 15,496 shares of the biopharmaceutical company’s stock worth $177,000 after buying an additional 400 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Alder BioPharmaceuticals by 109.4% in the second quarter. SG Americas Securities LLC now owns 15,580 shares of the biopharmaceutical company’s stock worth $178,000 after buying an additional 8,140 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.
Alder BioPharmaceuticals Company Profile
Alder BioPharmaceuticals, Inc, is a clinical-stage biopharmaceutical company that discovers, develops and seeks to commercialize genetically engineered therapeutic antibodies with the potential to meaningfully transform current treatment paradigms. Alder’s lead pivotal-stage product candidate, eptinezumab, is being evaluated for migraine prevention.
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