BMO Capital Markets restated their buy rating on shares of Alder BioPharmaceuticals (NASDAQ:ALDR) in a research note issued to investors on Wednesday morning. The firm currently has a $22.00 price objective on the biopharmaceutical company’s stock.
A number of other equities analysts have also commented on ALDR. Cowen began coverage on shares of Alder BioPharmaceuticals in a report on Tuesday, September 26th. They issued an outperform rating and a $20.00 price target on the stock. BidaskClub raised shares of Alder BioPharmaceuticals from a strong sell rating to a sell rating in a report on Friday, December 29th. ValuEngine raised shares of Alder BioPharmaceuticals from a strong sell rating to a sell rating in a report on Saturday, September 30th. Mizuho reissued a buy rating and issued a $32.00 price target on shares of Alder BioPharmaceuticals in a report on Wednesday, November 8th. Finally, Canaccord Genuity began coverage on shares of Alder BioPharmaceuticals in a report on Thursday, October 26th. They issued a buy rating and a $20.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $27.71.
Shares of Alder BioPharmaceuticals (NASDAQ ALDR) traded up $0.50 during trading hours on Wednesday, hitting $13.40. 1,000,174 shares of the stock were exchanged, compared to its average volume of 1,203,733. The company has a market cap of $897.21, a price-to-earnings ratio of -2.50 and a beta of 2.48. Alder BioPharmaceuticals has a 1 year low of $8.60 and a 1 year high of $25.45.
Alder BioPharmaceuticals (NASDAQ:ALDR) last issued its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.92) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.21) by $0.29. During the same quarter in the prior year, the business posted ($0.70) earnings per share. analysts anticipate that Alder BioPharmaceuticals will post -5.14 earnings per share for the current year.
In related news, insider Mark James Litton sold 16,520 shares of the stock in a transaction on Monday, October 16th. The shares were sold at an average price of $12.33, for a total transaction of $203,691.60. Following the transaction, the insider now owns 116,452 shares of the company’s stock, valued at approximately $1,435,853.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 10.60% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in ALDR. Janus Henderson Group PLC bought a new position in shares of Alder BioPharmaceuticals during the 2nd quarter valued at $36,956,000. Pinnacle Associates Ltd. bought a new position in shares of Alder BioPharmaceuticals during the 3rd quarter valued at $14,823,000. Pictet Asset Management Ltd. grew its holdings in shares of Alder BioPharmaceuticals by 159.4% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,650,540 shares of the biopharmaceutical company’s stock valued at $20,219,000 after purchasing an additional 1,014,290 shares during the last quarter. AXA grew its holdings in shares of Alder BioPharmaceuticals by 199.9% during the 3rd quarter. AXA now owns 992,083 shares of the biopharmaceutical company’s stock valued at $12,153,000 after purchasing an additional 661,253 shares during the last quarter. Finally, Schroder Investment Management Group bought a new position in shares of Alder BioPharmaceuticals during the 3rd quarter valued at $6,721,000. 96.80% of the stock is currently owned by institutional investors.
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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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