Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) insider John A. Latham sold 10,000 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $31.32, for a total transaction of $313,200.00. Following the sale, the insider now owns 252,200 shares of the company’s stock, valued at $7,898,904. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) opened at 30.20 on Friday. The firm has a 50-day moving average of $32.28 and a 200 day moving average of $28.38. The stock’s market capitalization is $1.52 billion. Alder BioPharmaceuticals Inc. has a one year low of $15.82 and a one year high of $39.43.
Alder BioPharmaceuticals (NASDAQ:ALDR) last announced its quarterly earnings results on Tuesday, July 26th. The biopharmaceutical company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.75) by $0.04. The business had revenue of $0.11 million for the quarter, compared to analyst estimates of $1.14 million. The firm’s quarterly revenue was up 112900.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.46) EPS. On average, equities research analysts predict that Alder BioPharmaceuticals Inc. will post ($3.33) EPS for the current year.
Hedge funds have recently made changes to their positions in the company. Smith Asset Management Group LP bought a new stake in shares of Alder BioPharmaceuticals during the second quarter valued at approximately $269,000. Cormorant Asset Management LLC increased its stake in Alder BioPharmaceuticals by 97.7% in the first quarter. Cormorant Asset Management LLC now owns 1,497,475 shares of the biopharmaceutical company’s stock worth $36,673,000 after buying an additional 740,000 shares during the period. Bellevue Group AG acquired a new stake in Alder BioPharmaceuticals during the first quarter worth $808,000. Legal & General Group Plc increased its stake in Alder BioPharmaceuticals by 57.6% in the first quarter. Legal & General Group Plc now owns 8,349 shares of the biopharmaceutical company’s stock worth $203,000 after buying an additional 3,053 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Alder BioPharmaceuticals during the first quarter worth $651,000.
A number of analysts have recently weighed in on the stock. Jefferies Group reiterated a “buy” rating and set a $61.00 target price on shares of Alder BioPharmaceuticals in a report on Tuesday, July 19th. JPMorgan Chase & Co. assumed coverage on shares of Alder BioPharmaceuticals in a report on Tuesday, September 13th. They set an “overweight” rating and a $40.00 target price for the company. Brean Capital reiterated a “positive” rating and set a $45.00 target price on shares of Alder BioPharmaceuticals in a report on Wednesday, July 27th. Finally, Zacks Investment Research lowered shares of Alder BioPharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Seven investment analysts have rated the stock with a buy rating, Alder BioPharmaceuticals currently has an average rating of “Buy” and a consensus target price of $45.00.
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.