Alder BioPharmaceuticals (ALDR) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Alder BioPharmaceuticals (NASDAQ:ALDR) from a hold rating to a buy rating in a research note released on Saturday morning.

Several other research firms have also recently issued reports on ALDR. Canaccord Genuity set a $22.00 price objective on Alder BioPharmaceuticals and gave the stock a buy rating in a research report on Friday, January 12th. Zacks Investment Research cut Alder BioPharmaceuticals from a hold rating to a sell rating in a research report on Thursday, January 11th. BMO Capital Markets increased their price objective on Alder BioPharmaceuticals to $26.00 and gave the stock an outperform rating in a research report on Tuesday, January 9th. Mizuho reiterated a buy rating and issued a $29.00 price objective (down previously from $32.00) on shares of Alder BioPharmaceuticals in a research report on Tuesday, January 9th. Finally, Leerink Swann reiterated an outperform rating on shares of Alder BioPharmaceuticals in a research report on Sunday, March 4th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $28.14.

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Alder BioPharmaceuticals stock opened at $14.55 on Friday. Alder BioPharmaceuticals has a 12 month low of $8.60 and a 12 month high of $22.50. The company has a market cap of $997.32, a PE ratio of -2.94 and a beta of 2.53.

Alder BioPharmaceuticals (NASDAQ:ALDR) last released its quarterly earnings data on Monday, February 26th. The biopharmaceutical company reported ($0.80) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.03) by $0.23. The business had revenue of $0.94 million during the quarter. During the same period last year, the firm earned ($0.97) EPS. research analysts forecast that Alder BioPharmaceuticals will post -4.25 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Redmile Group LLC increased its position in shares of Alder BioPharmaceuticals by 0.4% in the fourth quarter. Redmile Group LLC now owns 6,505,766 shares of the biopharmaceutical company’s stock valued at $74,491,000 after buying an additional 29,000 shares in the last quarter. Palo Alto Investors LLC increased its position in shares of Alder BioPharmaceuticals by 2,757.5% in 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 buying an additional 1,775,846 shares in the last quarter. Emerald Advisers Inc. PA increased its position in shares of Alder BioPharmaceuticals by 9.6% in the fourth quarter. Emerald Advisers Inc. PA now owns 1,730,028 shares of the biopharmaceutical company’s stock valued at $19,809,000 after buying an additional 151,551 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Alder BioPharmaceuticals by 9.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,661,997 shares of the biopharmaceutical company’s stock valued at $19,030,000 after buying an additional 145,503 shares in the last quarter. Finally, Pinnacle Associates Ltd. increased its position in shares of Alder BioPharmaceuticals by 11.4% in the fourth quarter. Pinnacle Associates Ltd. now owns 1,348,630 shares of the biopharmaceutical company’s stock valued at $15,442,000 after buying an additional 138,550 shares in the last quarter. Institutional investors and hedge funds own 99.14% of the company’s stock.

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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.

Analyst Recommendations for Alder BioPharmaceuticals (NASDAQ:ALDR)

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