Zacks Investment Research Lowers Alder BioPharmaceuticals Inc. (ALDR) to Hold
According to Zacks, “Alder Biopharmaceuticals Inc. is a clinical-stage biopharmaceutical company. It discovers, develops and seeks to commercialize therapeutic antibodies. It is developing monoclonal antibodies comprising ALD403, for the prevention of migraine; and Clazakizumab, in the treatment of rheumatoid arthritis and psoriatic arthritis. Alder Biopharmaceuticals Inc. is headquartered in Bothell, Washington. “
A number of other equities analysts have also weighed in on the stock. Brean Capital began coverage on shares of Alder BioPharmaceuticals in a research report on Friday, September 30th. They issued a buy rating and a $45.00 price target for the company. Jefferies Group reiterated a buy rating and issued a $62.00 price target on shares of Alder BioPharmaceuticals in a research report on Wednesday, September 28th. Finally, JPMorgan Chase & Co. began coverage on shares of Alder BioPharmaceuticals in a research report on Tuesday, September 13th. They issued an overweight rating and a $40.00 price target for the company. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Alder BioPharmaceuticals presently has an average rating of Buy and an average target price of $45.00.
Alder BioPharmaceuticals (NASDAQ:ALDR) opened at 27.65 on Thursday. Alder BioPharmaceuticals has a 12-month low of $15.82 and a 12-month high of $39.43. The company’s market cap is $1.39 billion. The company’s 50 day moving average is $31.74 and its 200 day moving average is $28.84.
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. The company had revenue of $0.11 million for the quarter, compared to the consensus estimate of $1.14 million. The company’s revenue for the quarter was up 112900.0% compared to the same quarter last year. During the same period last year, the business earned ($0.46) EPS. Analysts forecast that Alder BioPharmaceuticals will post ($3.33) earnings per share for the current fiscal year.
In other news, VP Jeffrey T. L. Smith sold 3,000 shares of the business’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $32.49, for a total value of $97,470.00. Following the transaction, the vice president now owns 3,000 shares of the company’s stock, valued at $97,470. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Randall C. Schatzman sold 10,000 shares of the business’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $28.08, for a total transaction of $280,800.00. Following the completion of the transaction, the insider now directly owns 124,768 shares in the company, valued at approximately $3,503,485.44. The disclosure for this sale can be found here. 11.50% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in ALDR. Wellington Management Group LLP increased its stake in Alder BioPharmaceuticals by 133.2% in the first quarter. Wellington Management Group LLP now owns 3,156,865 shares of the biopharmaceutical company’s stock worth $77,310,000 after buying an additional 1,803,110 shares during the last quarter. Vanguard Group Inc. increased its stake in Alder BioPharmaceuticals by 40.6% in the second quarter. Vanguard Group Inc. now owns 3,092,518 shares of the biopharmaceutical company’s stock worth $77,220,000 after buying an additional 893,334 shares during the last quarter. FMR LLC increased its stake in Alder BioPharmaceuticals by 12.8% in the second quarter. FMR LLC now owns 7,404,134 shares of the biopharmaceutical company’s stock worth $184,881,000 after buying an additional 840,549 shares during the last quarter. Marshall Wace LLP increased its stake in Alder BioPharmaceuticals by 439.6% in the second quarter. Marshall Wace LLP now owns 944,459 shares of the biopharmaceutical company’s stock worth $23,583,000 after buying an additional 769,439 shares during the last quarter. Finally, Cormorant Asset Management LLC increased its stake in Alder BioPharmaceuticals by 97.7% in the first quarter. Cormorant Asset Management LLC now owns 1,497,475 shares of the biopharmaceutical company’s stock worth $36,673,000 after buying an additional 740,000 shares during the last quarter.
About Alder BioPharmaceuticals
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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