Alder BioPharmaceuticals Inc. (ALDR) Sees Strong Trading Volume
Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) shares saw strong trading volume on Wednesday . 758,118 shares were traded 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.
Several analysts recently issued reports on the stock. Zacks Investment Research cut shares of Alder BioPharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, May 3rd. Brean Capital reiterated a “buy” rating on shares of Alder BioPharmaceuticals in a research note on Saturday, April 30th. 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 note on Wednesday, July 27th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $44.00.
The stock’s market capitalization is $1.63 billion. The company has a 50-day moving average of $29.34 and a 200-day moving average of $25.80.
Alder BioPharmaceuticals (NASDAQ:ALDR) last announced 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 business earned $0.11 million during the quarter, compared to the consensus estimate of $1.14 million. During the same quarter in the previous year, the business posted ($0.46) EPS. The firm’s revenue was up 112900.0% on a year-over-year basis. Equities research analysts expect that Alder BioPharmaceuticals Inc. will post ($2.76) EPS for the current fiscal year.
In other Alder BioPharmaceuticals news, insider Mark James Litton sold 25,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $2,399,402.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Randall C. Schatzman sold 10,000 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $28.08, for a total value of $280,800.00. Following the transaction, the insider now owns 124,768 shares in the company, valued at approximately $3,503,485.44. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Alder BioPharmaceuticals stock. Wells Fargo & Company MN increased 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 fund 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 0.62% of Alder BioPharmaceuticals worth $8,911,000 at the end of the most recent reporting period.
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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