Alder Biopharmaceuticals Inc (NASDAQ:ALDR) traded down 5.2% during trading on Wednesday . The company traded as low as $14.35 and last traded at $14.45. 611,054 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 1,787,235 shares. The stock had previously closed at $15.25.
A number of equities research analysts have commented on the stock. Canaccord Genuity set a $22.00 price target on shares of Alder Biopharmaceuticals and gave the stock a “buy” rating in a report on Friday, January 12th. Zacks Investment Research cut shares of Alder Biopharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. BMO Capital Markets raised their price target on shares of Alder Biopharmaceuticals to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. Mizuho restated a “buy” rating and issued a $29.00 price target (down from $32.00) on shares of Alder Biopharmaceuticals in a report on Tuesday, January 9th. Finally, Leerink Swann restated an “outperform” rating on shares of Alder Biopharmaceuticals in a report on Sunday, March 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $28.14.
The firm has a market capitalization of $980.36, a P/E ratio of -2.78 and a beta of 2.51.
Alder Biopharmaceuticals (NASDAQ:ALDR) last released its quarterly earnings data on Monday, February 26th. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.23. The business had revenue of $0.94 million during the quarter. During the same quarter last year, the business earned ($0.97) earnings per share. research analysts predict that Alder Biopharmaceuticals Inc will post -4.24 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC bought a new position in shares of Alder Biopharmaceuticals in the fourth quarter valued at $351,000. Palo Alto Investors LLC lifted its position in shares of Alder Biopharmaceuticals by 2,757.5% during the fourth quarter. Palo Alto Investors LLC now owns 1,840,246 shares of the biopharmaceutical company’s stock valued at $21,071,000 after purchasing an additional 1,775,846 shares in the last quarter. Redmile Group LLC lifted its position in shares of Alder Biopharmaceuticals by 0.4% during the fourth quarter. Redmile Group LLC now owns 6,505,766 shares of the biopharmaceutical company’s stock valued at $74,491,000 after purchasing an additional 29,000 shares in the last quarter. Crestline Management LP bought a new position in shares of Alder Biopharmaceuticals during the fourth quarter valued at about $1,519,000. Finally, Millennium Management LLC bought a new position in shares of Alder Biopharmaceuticals during the fourth quarter valued at about $2,341,000. 99.14% of the stock is currently owned by hedge funds and other institutional investors.
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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