Alder BioPharmaceuticals Inc. (ALDR) Sees Unusually-High Trading Volume
Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) shares saw unusually-strong trading volume on Wednesday . Approximately 758,118 shares changed hands during mid-day trading, an increase of 40% from the previous session’s volume of 543,336 shares.The stock last traded at $35.21 and had previously closed at $33.31.
A number of research analysts recently weighed in on ALDR shares. Jefferies Group reiterated a “buy” rating and issued a $61.00 target price on shares of Alder BioPharmaceuticals in a report on Thursday, June 9th. Zacks Investment Research upgraded Alder BioPharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, May 30th. Finally, Brean Capital reiterated a “positive” rating and issued a $45.00 target price on shares of Alder BioPharmaceuticals in a report on Wednesday, July 27th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $44.00.
The company’s market cap is $1.56 billion. The company’s 50-day moving average is $29.02 and its 200-day moving average is $25.72.
Alder BioPharmaceuticals (NASDAQ:ALDR) last announced its earnings results on Tuesday, July 26th. The biopharmaceutical company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by $0.04. During the same quarter in the prior year, the business posted ($0.46) earnings per share. The business had revenue of $0.11 million for the quarter, compared to the consensus estimate of $1.14 million. The firm’s revenue for the quarter was up 112900.0% on a year-over-year basis. On average, equities research analysts anticipate that Alder BioPharmaceuticals Inc. will post ($2.76) EPS for the current fiscal year.
In other Alder BioPharmaceuticals news, insider John A. Latham sold 6,401 shares of the business’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $30.05, for a total transaction of $192,350.05. Following the sale, the insider now directly owns 248,601 shares of the company’s stock, valued at approximately $7,470,460.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark James Litton sold 25,000 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 79,847 shares in the company, valued at $2,399,402.35. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Alder BioPharmaceuticals stock. Wells Fargo & Company MN boosted its stake in shares of Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) by 290.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 269,774 shares of the biopharmaceutical company’s stock after buying an additional 200,707 shares during the period. Wells Fargo & Company MN owned about 0.62% of Alder BioPharmaceuticals worth $8,911,000 as of its most recent filing with the SEC.
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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