Alder Biopharmaceuticals (NASDAQ:ALDR) had its price target reduced by Credit Suisse Group from $19.00 to $17.00 in a research report released on Tuesday. They currently have a hold rating on the biopharmaceutical company’s stock.
Other equities research analysts have also recently issued reports about the company. ValuEngine cut Alder Biopharmaceuticals from a strong-buy rating to a buy rating in a report on Friday, August 24th. Zacks Investment Research upgraded Alder Biopharmaceuticals from a hold rating to a buy rating and set a $21.00 price objective on the stock in a report on Monday, August 20th. Canaccord Genuity lifted their price objective on Alder Biopharmaceuticals from $20.00 to $22.00 and gave the stock a buy rating in a report on Thursday, August 9th. BMO Capital Markets lifted their price objective on Alder Biopharmaceuticals from $21.00 to $23.00 and gave the stock a buy rating in a report on Wednesday, August 8th. Finally, Stifel Nicolaus initiated coverage on Alder Biopharmaceuticals in a report on Tuesday, August 7th. They issued a buy rating and a $30.00 price objective on the stock. 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 assigned a strong buy rating to the stock. Alder Biopharmaceuticals currently has an average rating of Buy and a consensus target price of $21.67.
ALDR stock traded down $0.15 during trading on Tuesday, hitting $13.88. The stock had a trading volume of 706,563 shares, compared to its average volume of 800,551. The company has a current ratio of 15.34, a quick ratio of 10.88 and a debt-to-equity ratio of 0.97. Alder Biopharmaceuticals has a twelve month low of $9.55 and a twelve month high of $20.87. The stock has a market cap of $996.89 million, a price-to-earnings ratio of -2.80 and a beta of 2.70.
Alder Biopharmaceuticals (NASDAQ:ALDR) last posted its quarterly earnings data 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. As a group, equities analysts forecast that Alder Biopharmaceuticals will post -4.47 EPS for the current fiscal year.
In other news, Director Jeffrey T. L. Smith sold 5,040 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 5,871 shares in the company, valued at approximately $105,678. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John A. Latham sold 25,002 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $13.42, for a total value of $335,526.84. Following the transaction, the insider now owns 250,514 shares in the company, valued at $3,361,897.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,120 shares of company stock worth $1,407,922. Insiders own 17.40% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in Alder Biopharmaceuticals in the second quarter valued at approximately $107,000. Tower Research Capital LLC TRC acquired a new position in Alder Biopharmaceuticals in the second quarter valued at approximately $128,000. Xact Kapitalforvaltning AB acquired a new position in Alder Biopharmaceuticals in the first quarter valued at approximately $142,000. LPL Financial LLC acquired a new position in Alder Biopharmaceuticals in the first quarter valued at approximately $156,000. Finally, Brighton Jones LLC acquired a new position in Alder Biopharmaceuticals in the third quarter valued at approximately $197,000.
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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