Alder Biopharmaceuticals (ALDR) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Alder Biopharmaceuticals (NASDAQ:ALDR) from a buy rating to a hold rating in a research note released on Monday morning.

According to Zacks, “Alder Biopharmaceuticals Inc. is a clinical-stage biopharmaceutical company. It discovers, develops and seeks to commercialize therapeutic antibodies. It is developing monoclonal antibodies comprising ALD403, for the prevention of migraine; and Clazakizumab, in the treatment of rheumatoid arthritis and psoriatic arthritis. Alder Biopharmaceuticals Inc. is headquartered in Bothell, Washington. “

ALDR has been the subject of several other research reports. Stifel Nicolaus began coverage on Alder Biopharmaceuticals in a research note on Tuesday, August 7th. They set a buy rating and a $30.00 price target for the company. ValuEngine upgraded Alder Biopharmaceuticals from a buy rating to a strong-buy rating in a research note on Thursday, August 2nd. BidaskClub cut Alder Biopharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, July 25th. Credit Suisse Group increased their price objective on Alder Biopharmaceuticals from $16.00 to $19.00 and gave the stock an outperform rating in a research report on Monday, August 13th. Finally, Canaccord Genuity increased their price objective on Alder Biopharmaceuticals from $20.00 to $22.00 and gave the stock a buy rating in a research report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. Alder Biopharmaceuticals currently has a consensus rating of Buy and an average target price of $23.33.

Alder Biopharmaceuticals stock opened at $14.20 on Monday. Alder Biopharmaceuticals has a 12 month low of $9.55 and a 12 month high of $20.87. The company has a debt-to-equity ratio of 0.73, a current ratio of 10.88 and a quick ratio of 10.88. The company has a market cap of $1.14 billion, a PE ratio of -2.87 and a beta of 2.59.

Alder Biopharmaceuticals (NASDAQ:ALDR) last released its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($1.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.05) by $0.01. As a group, sell-side analysts anticipate that Alder Biopharmaceuticals will post -4.73 EPS for the current fiscal year.

In other news, Director Jeffrey T. L. Smith sold 5,040 shares of the firm’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $19.54, for a total value of $98,481.60. Following the completion of the transaction, the director now owns 5,871 shares in the company, valued at $114,719.34. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider John A. Latham sold 24,999 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $19.55, for a total value of $488,730.45. Following the completion of the transaction, the insider now owns 268,692 shares of the company’s stock, valued at approximately $5,252,928.60. The disclosure for this sale can be found here. Insiders sold 90,117 shares of company stock valued at $1,591,970 in the last quarter. 17.40% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in ALDR. New York State Common Retirement Fund increased its position in shares of Alder Biopharmaceuticals by 7.2% in the first quarter. New York State Common Retirement Fund now owns 68,400 shares of the biopharmaceutical company’s stock valued at $869,000 after buying an additional 4,600 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Alder Biopharmaceuticals by 39.2% in the first quarter. Dimensional Fund Advisors LP now owns 822,784 shares of the biopharmaceutical company’s stock valued at $10,449,000 after buying an additional 231,859 shares in the last quarter. UBS Group AG increased its position in shares of Alder Biopharmaceuticals by 1,284.0% in the first quarter. UBS Group AG now owns 228,837 shares of the biopharmaceutical company’s stock valued at $2,906,000 after buying an additional 212,303 shares in the last quarter. Foresite Capital Management II LLC increased its position in shares of Alder Biopharmaceuticals by 57.9% in the first quarter. Foresite Capital Management II LLC now owns 1,686,220 shares of the biopharmaceutical company’s stock valued at $21,415,000 after buying an additional 618,388 shares in the last quarter. Finally, Foresite Capital Management III LLC increased its position in shares of Alder Biopharmaceuticals by 3.3% in the first quarter. Foresite Capital Management III LLC now owns 2,942,130 shares of the biopharmaceutical company’s stock valued at $37,365,000 after buying an additional 95,000 shares in the last quarter.

Alder Biopharmaceuticals Company Profile

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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