Alder Biopharmaceuticals Inc (NASDAQ:ALDR) shares fell 3% on Thursday . The company traded as low as $11.15 and last traded at $11.20. 1,517,063 shares changed hands during trading, a decline of 15% from the average session volume of 1,779,517 shares. The stock had previously closed at $11.55.
A number of research firms have weighed in on ALDR. BidaskClub lowered shares of Alder Biopharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research raised shares of Alder Biopharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. Leerink Swann reissued an “outperform” rating on shares of Alder Biopharmaceuticals in a research report on Sunday, March 4th. BMO Capital Markets reissued a “buy” rating and set a $22.00 target price on shares of Alder Biopharmaceuticals in a research report on Wednesday, January 3rd. Finally, ValuEngine raised shares of Alder Biopharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 4th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. Alder Biopharmaceuticals presently has an average rating of “Buy” and a consensus target price of $28.14.
The firm has a market capitalization of $783.61, a PE ratio of -2.17 and a beta of 2.51.
Several institutional investors and hedge funds have recently made changes to their positions in ALDR. SG Americas Securities LLC acquired a new position in shares of Alder Biopharmaceuticals during the fourth quarter valued at about $132,000. Jane Street Group LLC acquired a new position in Alder Biopharmaceuticals in the third quarter worth about $184,000. Paloma Partners Management Co acquired a new position in Alder Biopharmaceuticals in the fourth quarter worth about $222,000. Teacher Retirement System of Texas acquired a new position in Alder Biopharmaceuticals in the fourth quarter worth about $231,000. Finally, Cubist Systematic Strategies LLC raised its position in Alder Biopharmaceuticals by 611.7% in the third quarter. Cubist Systematic Strategies LLC now owns 23,373 shares of the biopharmaceutical company’s stock worth $286,000 after purchasing an additional 20,089 shares in the last quarter. 99.14% of the stock is owned by institutional investors and hedge funds.
About Alder Biopharmaceuticals
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.
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