Zacks Investment Research downgraded shares of Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) from a buy rating to a hold rating in a report published on Tuesday morning.

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. “

ALDR has been the topic of a number of other research reports. UBS AG initiated coverage on shares of Alder BioPharmaceuticals in a report on Friday, May 5th. They set a sell rating and a $13.00 price target on the stock. Needham & Company LLC reissued a buy rating and issued a $36.00 price objective on shares of Alder BioPharmaceuticals in a report on Friday, June 9th. Leerink Swann restated an outperform rating and set a $32.00 target price on shares of Alder BioPharmaceuticals in a research note on Monday, June 12th. Aegis restated a buy rating and set a $41.00 target price on shares of Alder BioPharmaceuticals in a research note on Tuesday, April 25th. Finally, Jefferies Group LLC restated a buy rating and set a $43.00 target price on shares of Alder BioPharmaceuticals in a research note on Monday, April 17th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $33.75.

Alder BioPharmaceuticals (NASDAQ:ALDR) traded up 5.98% during midday trading on Tuesday, reaching $9.75. 876,864 shares of the company’s stock traded hands. Alder BioPharmaceuticals has a 52-week low of $9.40 and a 52-week high of $36.48. The stock’s market cap is $491.50 million. The company’s 50-day moving average price is $12.91 and its 200-day moving average price is $18.65.

Alder BioPharmaceuticals (NASDAQ:ALDR) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.48) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.67) by $0.19. The business had revenue of $0.68 million during the quarter. During the same period last year, the firm posted ($0.79) EPS. Alder BioPharmaceuticals’s quarterly revenue was up 518.2% compared to the same quarter last year. On average, equities analysts predict that Alder BioPharmaceuticals will post ($6.27) EPS for the current fiscal year.

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In related news, Director Stephen M. Dow acquired 25,000 shares of Alder BioPharmaceuticals stock in a transaction dated Tuesday, July 18th. The shares were purchased at an average price of $10.00 per share, for a total transaction of $250,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 10.60% of the company’s stock.

A number of large investors have recently made changes to their positions in the company. Bank of Montreal Can raised its position in Alder BioPharmaceuticals by 3,047.2% in the first quarter. Bank of Montreal Can now owns 5,602 shares of the biopharmaceutical company’s stock valued at $117,000 after buying an additional 5,424 shares during the last quarter. Legal & General Group Plc raised its position in Alder BioPharmaceuticals by 2.6% in the second quarter. Legal & General Group Plc now owns 15,496 shares of the biopharmaceutical company’s stock valued at $177,000 after buying an additional 400 shares during the last quarter. SG Americas Securities LLC raised its position in Alder BioPharmaceuticals by 109.4% in the second quarter. SG Americas Securities LLC now owns 15,580 shares of the biopharmaceutical company’s stock valued at $178,000 after buying an additional 8,140 shares during the last quarter. Stifel Financial Corp purchased a new position in Alder BioPharmaceuticals during the first quarter valued at approximately $206,000. Finally, Trexquant Investment LP purchased a new position in Alder BioPharmaceuticals during the first quarter valued at approximately $265,000. Institutional investors own 82.44% of the company’s stock.

Alder BioPharmaceuticals Company Profile

Alder BioPharmaceuticals, Inc, is a clinical-stage biopharmaceutical company that discovers, develops and seeks to commercialize genetically engineered therapeutic antibodies with the potential to meaningfully transform current treatment paradigms. Alder’s lead pivotal-stage product candidate, eptinezumab, is being evaluated for migraine prevention.

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Analyst Recommendations for Alder BioPharmaceuticals (NASDAQ:ALDR)

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