Shares of Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) gapped up prior to trading on Thursday . The stock had previously closed at $31.25, but opened at $31.36. Alder BioPharmaceuticals shares last traded at $31.83, with a volume of 347,227 shares trading hands.

Several brokerages recently commented on ALDR. Jefferies Group reiterated a “buy” rating and issued a $61.00 price objective on shares of Alder BioPharmaceuticals in a research note on Thursday, June 9th. Zacks Investment Research cut shares of Alder BioPharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Brean Capital reiterated a “positive” rating and issued a $45.00 price objective on shares of Alder BioPharmaceuticals in a research note on Wednesday, July 27th. Finally, Wells Fargo & Co. began coverage on shares of Alder BioPharmaceuticals in a research note on Thursday, April 21st. They issued an “outperform” rating for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Alder BioPharmaceuticals presently has an average rating of “Buy” and a consensus target price of $47.60.

The firm’s market capitalization is $1.56 billion. The stock has a 50-day moving average price of $27.05 and a 200 day moving average price of $25.30.

Alder BioPharmaceuticals (NASDAQ:ALDR) last released 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 firm had revenue of $0.11 million for the quarter, compared to analyst estimates of $1.14 million. The business’s revenue was up 112900.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.46) EPS. On average, equities analysts expect that Alder BioPharmaceuticals Inc. will post ($2.76) EPS for the current year.

In other news, insider John A. Latham sold 10,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $31.19, for a total transaction of $311,900.00. Following the completion of the transaction, the insider now owns 252,200 shares in the company, valued at $7,866,118. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark James Litton sold 25,000 shares of the company’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $30.05, for a total transaction of $751,250.00. Following the transaction, the insider now owns 79,847 shares of the company’s stock, valued at approximately $2,399,402.35. The disclosure for this sale can be found here.

Other institutional investors have recently added to or reduced their stakes in the company. Janus Capital Management raised its position in Alder BioPharmaceuticals by 391.1% in the third quarter. Janus Capital Management now owns 4,239,855 shares of the biopharmaceutical company’s stock valued at $138,900,000 after buying an additional 3,376,540 shares in the last quarter. Wells Fargo & Company MN raised its position in Alder BioPharmaceuticals by 290.6% in the fourth quarter. Wells Fargo & Company MN now owns 269,774 shares of the biopharmaceutical company’s stock valued at $8,911,000 after buying an additional 200,707 shares in the last quarter. California Public Employees Retirement System raised its position in Alder BioPharmaceuticals by 834.5% in the fourth quarter. California Public Employees Retirement System now owns 81,300 shares of the biopharmaceutical company’s stock valued at $2,685,000 after buying an additional 72,600 shares in the last quarter. Pyrrho Capital Management LP raised its position in Alder BioPharmaceuticals by 205.0% in the fourth quarter. Pyrrho Capital Management LP now owns 63,000 shares of the biopharmaceutical company’s stock valued at $2,081,000 after buying an additional 42,343 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in Alder BioPharmaceuticals by 103.6% in the fourth quarter. Nationwide Fund Advisors now owns 30,380 shares of the biopharmaceutical company’s stock valued at $1,003,000 after buying an additional 15,457 shares in the last quarter.

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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