Alder BioPharmaceuticals, Inc. (ALDR) Given “Buy” Rating at Needham & Company LLC
Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research note issued to investors on Thursday. They currently have a $26.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $36.00. Needham & Company LLC’s price target indicates a potential upside of 169.43% from the stock’s current price.
ALDR has been the subject of a number of other reports. Zacks Investment Research upgraded Alder BioPharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Tuesday, July 11th. Credit Suisse Group cut Alder BioPharmaceuticals from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $30.00 to $17.00 in a research note on Wednesday, June 28th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $51.00 target price on shares of Alder BioPharmaceuticals in a research report on Wednesday, June 28th. ValuEngine lowered Alder BioPharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 29th. Finally, Aegis reaffirmed a “buy” rating and set a $41.00 target price on shares of Alder BioPharmaceuticals in a research report on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Alder BioPharmaceuticals presently has a consensus rating of “Buy” and an average target price of $32.92.
Shares of Alder BioPharmaceuticals (NASDAQ ALDR) opened at 9.65 on Thursday. The stock has a 50 day moving average price of $12.14 and a 200 day moving average price of $18.37. Alder BioPharmaceuticals has a 1-year low of $9.15 and a 1-year high of $36.48. The firm’s market capitalization is $486.46 million.
Alder BioPharmaceuticals (NASDAQ:ALDR) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.48) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.67) by $0.19. The firm had revenue of $0.68 million during the quarter. During the same period last year, the firm earned ($0.79) EPS. The business’s revenue was up 518.2% compared to the same quarter last year. Equities research analysts anticipate that Alder BioPharmaceuticals will post ($6.27) earnings per share for the current fiscal year.
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In other Alder BioPharmaceuticals news, Director Stephen M. Dow purchased 25,000 shares of the firm’s stock in a transaction on Tuesday, July 18th. The stock was purchased at an average cost of $10.00 per share, for a total transaction of $250,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 10.60% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of ALDR. Russell Investments Group Ltd. acquired a new stake in shares of Alder BioPharmaceuticals during the fourth quarter worth $334,000. Norges Bank acquired a new stake in shares of Alder BioPharmaceuticals during the fourth quarter worth $5,453,000. Teachers Advisors LLC increased its stake in shares of Alder BioPharmaceuticals by 1.5% in the fourth quarter. Teachers Advisors LLC now owns 76,809 shares of the biopharmaceutical company’s stock worth $1,598,000 after buying an additional 1,171 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of Alder BioPharmaceuticals by 39.8% in the fourth quarter. Macquarie Group Ltd. now owns 140,489 shares of the biopharmaceutical company’s stock worth $2,922,000 after buying an additional 40,000 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in shares of 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 worth $117,000 after buying an additional 5,424 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.
About Alder BioPharmaceuticals
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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