Alder BioPharmaceuticals Inc. (NASDAQ:ALDR)‘s stock had its “buy” rating reiterated by Jefferies Group in a report released on Wednesday. They presently have a $62.00 target price on the biopharmaceutical company’s stock. Jefferies Group’s price target would suggest a potential upside of 85.91% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on ALDR. Zacks Investment Research raised shares of Alder BioPharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, July 6th. Brean Capital reissued a “positive” rating and issued a $45.00 target price on shares of Alder BioPharmaceuticals in a research report on Wednesday, July 27th. Finally, JPMorgan Chase & Co. began coverage on shares of Alder BioPharmaceuticals in a research report on Tuesday, September 13th. They issued an “overweight” rating and a $40.00 target price on the stock. Seven research analysts have rated the stock with a buy rating, Alder BioPharmaceuticals currently has an average rating of “Buy” and an average price target of $45.00.
Alder BioPharmaceuticals (NASDAQ:ALDR) traded down 2.80% on Wednesday, reaching $33.35. 740,707 shares of the company’s stock traded hands. The firm’s market capitalization is $1.67 billion. The stock has a 50-day moving average of $32.06 and a 200 day moving average of $27.85. Alder BioPharmaceuticals has a 52 week low of $15.82 and a 52 week high of $39.43.
Alder BioPharmaceuticals (NASDAQ:ALDR) last released its quarterly earnings results on Tuesday, July 26th. The biopharmaceutical company reported ($0.79) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.75) by $0.04. The business had revenue of $0.11 million for the quarter, compared to the consensus estimate of $1.14 million. During the same quarter in the prior year, the company earned ($0.46) earnings per share. Alder BioPharmaceuticals’s revenue was up 112900.0% compared to the same quarter last year. On average, equities analysts expect that Alder BioPharmaceuticals will post ($2.87) EPS for the current fiscal year.
In related news, insider Randall C. Schatzman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $28.08, for a total value of $280,800.00. Following the transaction, the insider now owns 124,768 shares in the company, valued at $3,503,485.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jeffrey T. L. Smith sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $32.49, for a total transaction of $97,470.00. Following the completion of the transaction, the vice president now owns 3,000 shares in the company, valued at approximately $97,470. The disclosure for this sale can be found here. 11.50% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in Alder BioPharmaceuticals during the first quarter valued at approximately $651,000. HBK Investments L P acquired a new position in Alder BioPharmaceuticals during the first quarter valued at approximately $282,000. Wellington Management Group LLP raised its position in Alder BioPharmaceuticals by 133.2% in the first quarter. Wellington Management Group LLP now owns 3,156,865 shares of the biopharmaceutical company’s stock valued at $77,310,000 after buying an additional 1,803,110 shares during the last quarter. Geode Capital Management LLC raised its position in Alder BioPharmaceuticals by 2.1% in the first quarter. Geode Capital Management LLC now owns 179,237 shares of the biopharmaceutical company’s stock valued at $4,389,000 after buying an additional 3,621 shares during the last quarter. Finally, Pictet Asset Management Ltd. raised its position in Alder BioPharmaceuticals by 32.1% in the first quarter. Pictet Asset Management Ltd. now owns 79,800 shares of the biopharmaceutical company’s stock valued at $1,515,000 after buying an additional 19,400 shares during the last quarter.
Alder BioPharmaceuticals Company Profile
Alder Biopharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company discovers, develops and focuses to commercialize therapeutic antibodies with the potential to transform current treatment paradigms. The Company has developed an antibody platform designed to select antibodies that have the potential to maximize efficacy, as well as speed of onset and durability of therapeutic response.
Receive News & Ratings for Alder BioPharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alder BioPharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.