Shares of Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) fell 2.4% during mid-day trading on Monday . The stock traded as low as $30.40 and last traded at $30.71, with a volume of 151,840 shares changing hands. The stock had previously closed at $31.45.

Several brokerages recently issued reports on ALDR. Zacks Investment Research lowered shares of Alder BioPharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, May 3rd. Brean Capital restated a “buy” rating on shares of Alder BioPharmaceuticals in a research report on Saturday, April 30th. Wells Fargo & Co. began coverage on shares of Alder BioPharmaceuticals in a research report on Thursday, April 21st. They set an “outperform” rating for the company. Finally, Jefferies Group boosted their target price on shares of Alder BioPharmaceuticals from $61.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $44.00.

The stock’s market capitalization is $1.53 billion. The firm has a 50-day moving average price of $27.25 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) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by $0.04. During the same quarter in the prior year, the company earned ($0.46) EPS. The firm had revenue of $0.11 million for the quarter, compared to analyst estimates of $1.14 million. The business’s quarterly revenue was up 112900.0% on a year-over-year basis. Equities research analysts anticipate that Alder BioPharmaceuticals Inc. will post ($2.76) EPS for the current year.

In related news, CEO Randall C. Schatzman sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $28.02, for a total value of $280,200.00. Following the completion of the transaction, the chief executive officer now directly owns 115,933 shares of the company’s stock, valued at approximately $3,248,442.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark James Litton sold 25,000 shares of the stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $30.05, for a total transaction of $751,250.00. Following the completion of the transaction, the insider now directly owns 79,847 shares of the company’s stock, valued at $2,399,402.35. The disclosure for this sale can be found here.

Other institutional investors recently made changes to their positions in the company. Pyrrho Capital Management LP raised its position in shares of 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 during the last quarter. Nationwide Fund Advisors raised its position in shares of 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 during the last quarter. California Public Employees Retirement System raised its position in shares of 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 during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of 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 during 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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