Wells Fargo & Co initiated coverage on shares of Alder Biopharmaceuticals (NASDAQ:ALDR) in a research report sent to investors on Tuesday morning. The brokerage issued an outperform rating on the biopharmaceutical company’s stock.
Other analysts also recently issued reports about the stock. BidaskClub downgraded shares of Alder Biopharmaceuticals from a buy rating to a hold rating in a research report on Friday, August 17th. BMO Capital Markets boosted their target price on shares of Alder Biopharmaceuticals from $21.00 to $23.00 and gave the stock a buy rating in a research report on Wednesday, August 8th. ValuEngine raised shares of Alder Biopharmaceuticals from a buy rating to a strong-buy rating in a research report on Thursday, August 2nd. Cantor Fitzgerald reissued a hold rating and issued a $21.00 target price on shares of Alder Biopharmaceuticals in a research report on Tuesday, October 23rd. Finally, Zacks Investment Research downgraded shares of Alder Biopharmaceuticals from a buy rating to a hold rating in a report on Monday, October 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $21.67.
ALDR stock traded down $0.15 during trading hours on Tuesday, hitting $13.88. The company’s stock had a trading volume of 706,563 shares, compared to its average volume of 800,551. The company has a quick ratio of 10.88, a current ratio of 15.34 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $996.89 million, a price-to-earnings ratio of -2.80 and a beta of 2.70. Alder Biopharmaceuticals has a 12 month low of $9.55 and a 12 month high of $20.87.
Alder Biopharmaceuticals (NASDAQ:ALDR) last posted its earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.91) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.13) by $0.22. On average, research analysts expect that Alder Biopharmaceuticals will post -4.47 EPS for the current fiscal year.
In related news, insider John A. Latham sold 25,002 shares of the company’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $13.42, for a total transaction of $335,526.84. Following the completion of the sale, the insider now directly owns 250,514 shares of the company’s stock, valued at approximately $3,361,897.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey T. L. Smith sold 5,040 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $18.00, for a total transaction of $90,720.00. Following the sale, the director now directly owns 5,871 shares of the company’s stock, valued at $105,678. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,120 shares of company stock valued at $1,407,922. 17.40% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. boosted its holdings in shares of Alder Biopharmaceuticals by 56.7% during the 2nd quarter. American Century Companies Inc. now owns 173,235 shares of the biopharmaceutical company’s stock worth $2,737,000 after buying an additional 62,704 shares during the period. Point72 Asset Management L.P. acquired a new position in Alder Biopharmaceuticals during the 2nd quarter valued at $1,956,000. TD Asset Management Inc. raised its stake in Alder Biopharmaceuticals by 79.1% during the 2nd quarter. TD Asset Management Inc. now owns 83,300 shares of the biopharmaceutical company’s stock valued at $1,316,000 after purchasing an additional 36,800 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Alder Biopharmaceuticals during the 2nd quarter valued at $198,000. Finally, Brown Advisory Inc. raised its stake in Alder Biopharmaceuticals by 1.2% during the 2nd quarter. Brown Advisory Inc. now owns 1,078,596 shares of the biopharmaceutical company’s stock valued at $17,042,000 after purchasing an additional 12,432 shares during 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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