Alder BioPharmaceuticals Inc. (ALDR) Trading Up 7.3%
Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) was up 7.3% on Monday . The stock traded as high as $32.75 and last traded at $32.63, with a volume of 508,843 shares. The stock had previously closed at $30.40.
Several equities research analysts have recently weighed in on ALDR shares. Jefferies Group reiterated a “buy” rating and set a $61.00 target price on shares of Alder BioPharmaceuticals in a research note on Thursday, June 9th. Zacks Investment Research upgraded shares of Alder BioPharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, May 30th. Finally, Brean Capital reiterated a “positive” rating and set a $45.00 target price on shares of Alder BioPharmaceuticals in a research note on Wednesday, July 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $44.00.
The company’s 50 day moving average price is $28.69 and its 200 day moving average price is $25.56. The stock’s market capitalization is $1.65 billion.
Alder BioPharmaceuticals (NASDAQ:ALDR) last issued its quarterly earnings data on Tuesday, July 26th. The biopharmaceutical company reported ($0.79) EPS 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 business had revenue of $0.11 million for the quarter, compared to analysts’ expectations of $1.14 million. Alder BioPharmaceuticals’s quarterly revenue was up 112900.0% compared to the same quarter last year. Analysts forecast that Alder BioPharmaceuticals Inc. will post ($2.76) EPS for the current year.
In other Alder BioPharmaceuticals news, VP Jeffrey T. L. Smith sold 3,000 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $31.17, for a total value of $93,510.00. Following the completion of the transaction, the vice president now owns 3,000 shares in the company, valued at approximately $93,510. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 completion of 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.
A hedge fund recently raised its stake in Alder BioPharmaceuticals stock. Wells Fargo & Company MN boosted its stake in Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) by 290.6% during the fourth quarter, according to its most recent disclosure with the SEC. The firm 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 approximately 0.62% of Alder BioPharmaceuticals worth $8,911,000 at the end of the most recent 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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