Shares of Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) were down 2.9% during trading on Thursday after an insider sold shares in the company. The company traded as low as $30.28 and last traded at $30.55, with a volume of 106,225 shares traded. The stock had previously closed at $31.47.
Specifically, insider Randall C. Schatzman sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $28.08, for a total transaction of $280,800.00. Following the sale, the insider now owns 124,768 shares of the company’s stock, valued at $3,503,485.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Jeffrey T. L. Smith sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $31.14, for a total value of $93,420.00. Following the sale, the vice president now directly owns 3,000 shares in the company, valued at approximately $93,420. The disclosure for this sale can be found here. Corporate insiders own 11.50% of the company’s stock.
Several equities research analysts recently commented on ALDR shares. Brean Capital started coverage on Alder BioPharmaceuticals in a report on Friday, September 30th. They set a “buy” rating and a $45.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on shares of Alder BioPharmaceuticals in a research report on Tuesday, September 13th. They issued an “overweight” rating and a $40.00 price target on the stock. Jefferies Group lifted their price target on shares of Alder BioPharmaceuticals from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Finally, Zacks Investment Research upgraded shares of Alder BioPharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 6th. Seven analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of $45.00.
The stock has a 50-day moving average of $32.28 and a 200-day moving average of $28.47. The firm’s market cap is $1.52 billion.
Alder BioPharmaceuticals (NASDAQ:ALDR) last posted its earnings results on Tuesday, July 26th. The biopharmaceutical company reported ($0.79) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.75) by $0.04. The company had revenue of $0.11 million for the quarter, compared to analyst estimates of $1.14 million. The firm’s revenue for the quarter was up 112900.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.46) earnings per share. Equities research analysts forecast that Alder BioPharmaceuticals Inc. will post ($3.33) EPS for the current year.
Hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA boosted its stake in shares of Alder BioPharmaceuticals by 110.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,844 shares of the biopharmaceutical company’s stock valued at $126,000 after buying an additional 2,016 shares in the last quarter. Birchview Capital LP purchased a new stake in shares of Alder BioPharmaceuticals during the second quarter valued at $129,000. Teacher Retirement System of Texas boosted its stake in shares of Alder BioPharmaceuticals by 85.5% in the second quarter. Teacher Retirement System of Texas now owns 5,393 shares of the biopharmaceutical company’s stock valued at $135,000 after buying an additional 2,485 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Alder BioPharmaceuticals during the second quarter valued at $206,000. Finally, M&T Bank Corp purchased a new stake in shares of Alder BioPharmaceuticals during the second quarter valued at $265,000.
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.
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