Cantor Fitzgerald set a $21.00 price objective on Alder Biopharmaceuticals (NASDAQ:ALDR) in a research note issued to investors on Tuesday. The brokerage currently has a hold rating on the biopharmaceutical company’s stock.
“. We reiterate our Neutral rating and $21 PT for ALDR. Monday, AMC, Alder reported cash of $485M, and our model projects the balance sheet to fund operations well into 2020. Questions on the earnings call centered on the eptinezumab market opportunity and commercialization strategy as the fourth CGRP monoclonal to enter the space. We believe that epti’ is in a class all its own as the only IV form and has a differentiated clinical profile that makes it well-positioned to target the highest burden migraine market and a prescriber base that would prefer to use in-office infusion capabilities.”,” Cantor Fitzgerald’s analyst wrote.
Several other analysts have also issued reports on ALDR. Zacks Investment Research lowered Alder Biopharmaceuticals from a buy rating to a hold rating in a research note on Monday, October 22nd. BidaskClub raised Alder Biopharmaceuticals from a hold rating to a buy rating in a research note on Wednesday, July 18th. ValuEngine raised Alder Biopharmaceuticals from a hold rating to a buy rating in a research note on Friday, October 26th. Stifel Nicolaus began coverage on Alder Biopharmaceuticals in a research note on Tuesday, August 7th. They issued a buy rating and a $30.00 target price for the company. Finally, Piper Jaffray Companies initiated coverage on Alder Biopharmaceuticals in a research note on Monday, August 6th. They issued an overweight rating and a $28.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Alder Biopharmaceuticals has a consensus rating of Buy and a consensus target price of $21.67.
Shares of ALDR opened at $13.88 on Tuesday. The company has a market capitalization of $996.89 million, a price-to-earnings ratio of -2.80 and a beta of 2.70. The company has a quick ratio of 10.88, a current ratio of 15.34 and a debt-to-equity ratio of 0.97. Alder Biopharmaceuticals has a 1 year low of $9.55 and a 1 year high of $20.87.
Alder Biopharmaceuticals (NASDAQ:ALDR) last issued its earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.13) by $0.22. Sell-side analysts anticipate that Alder Biopharmaceuticals will post -4.47 earnings per share for the current fiscal year.
In other news, insider John A. Latham sold 25,002 shares of the stock in a transaction that occurred on Thursday, November 1st. The stock was 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 owns 250,514 shares of the company’s stock, valued at $3,361,897.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John A. Latham sold 24,999 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $17.99, for a total value of $449,732.01. Following the sale, the insider now directly owns 268,692 shares of the company’s stock, valued at approximately $4,833,769.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,120 shares of company stock valued at $1,407,922. Insiders own 17.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Fosun International Ltd purchased a new stake in Alder Biopharmaceuticals in the third quarter worth $2,661,000. Candriam Luxembourg S.C.A. lifted its stake in Alder Biopharmaceuticals by 4.6% in the third quarter. Candriam Luxembourg S.C.A. now owns 227,500 shares of the biopharmaceutical company’s stock worth $3,788,000 after acquiring an additional 10,000 shares during the period. Brighton Jones LLC purchased a new stake in Alder Biopharmaceuticals in the third quarter worth $197,000. First Trust Advisors LP lifted its stake in Alder Biopharmaceuticals by 200.7% in the third quarter. First Trust Advisors LP now owns 277,214 shares of the biopharmaceutical company’s stock worth $4,616,000 after acquiring an additional 185,033 shares during the period. Finally, Cornerstone Wealth Management LLC purchased a new stake in Alder Biopharmaceuticals in the third quarter worth $400,000.
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.
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