Alder BioPharmaceuticals (ALDR) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of Alder BioPharmaceuticals (NASDAQ:ALDR) from a sell rating to a hold rating in a report published on Thursday.

ALDR has been the topic of a number of other reports. Mizuho assumed coverage on shares of Alder BioPharmaceuticals in a report on Wednesday, September 6th. They issued a buy rating and a $32.00 price target on the stock. Canaccord Genuity assumed coverage on shares of Alder BioPharmaceuticals in a report on Thursday, October 26th. They issued a buy rating and a $20.00 price target on the stock. Royal Bank of Canada started coverage on shares of Alder BioPharmaceuticals in a report on Thursday, September 14th. They issued an outperform rating and a $17.00 price target on the stock. ValuEngine downgraded shares of Alder BioPharmaceuticals from a sell rating to a strong sell rating in a report on Wednesday, October 18th. Finally, BMO Capital Markets restated a buy rating and issued a $22.00 target price on shares of Alder BioPharmaceuticals in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $27.71.

Shares of Alder BioPharmaceuticals (NASDAQ:ALDR) traded up $0.50 during midday trading on Thursday, reaching $13.40. 1,000,100 shares of the company’s stock were exchanged, compared to its average volume of 1,203,733. The company has a market cap of $929.37, a P/E ratio of -2.50 and a beta of 2.48. Alder BioPharmaceuticals has a one year low of $8.60 and a one year high of $25.45.

Alder BioPharmaceuticals (NASDAQ:ALDR) last announced its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.29. During the same quarter in the prior year, the company earned ($0.70) earnings per share. analysts forecast that Alder BioPharmaceuticals will post -5.14 EPS for the current year.

In other news, insider Mark James Litton sold 16,519 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $10.80, for a total value of $178,405.20. Following the sale, the insider now directly owns 116,451 shares in the company, valued at approximately $1,257,670.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 10.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP purchased a new position in shares of Alder BioPharmaceuticals during the 1st quarter worth about $564,000. Russell Investments Group Ltd. boosted its stake in shares of Alder BioPharmaceuticals by 7.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 42,416 shares of the biopharmaceutical company’s stock worth $486,000 after purchasing an additional 2,837 shares during the period. Rhumbline Advisers boosted its stake in shares of Alder BioPharmaceuticals by 8.5% during the 2nd quarter. Rhumbline Advisers now owns 61,416 shares of the biopharmaceutical company’s stock worth $703,000 after purchasing an additional 4,825 shares during the period. State of Wisconsin Investment Board purchased a new position in shares of Alder BioPharmaceuticals during the 2nd quarter worth about $401,000. Finally, SG Americas Securities LLC boosted its stake in shares of Alder BioPharmaceuticals by 109.4% during the 2nd quarter. SG Americas Securities LLC now owns 15,580 shares of the biopharmaceutical company’s stock worth $178,000 after purchasing an additional 8,140 shares during the period. Hedge funds and other institutional investors own 96.80% of the company’s stock.

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Alder BioPharmaceuticals Company Profile

Alder BioPharmaceuticals, Inc, is a clinical-stage biopharmaceutical company that discovers, develops and seeks to commercialize genetically engineered therapeutic antibodies with the potential to meaningfully transform current treatment paradigms. Alder’s lead pivotal-stage product candidate, eptinezumab, is being evaluated for migraine prevention.

Analyst Recommendations for Alder BioPharmaceuticals (NASDAQ:ALDR)

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