Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) shares were up 6.5% during mid-day trading on Friday . The stock traded as high as $10.05 and last traded at $10.55. Approximately 845,378 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 1,832,660 shares. The stock had previously closed at $9.90.

Several research firms recently commented on ALDR. Zacks Investment Research raised Alder BioPharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Tuesday, July 11th. Credit Suisse Group lowered Alder BioPharmaceuticals from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $30.00 to $17.00 in a report on Wednesday, June 28th. Mizuho assumed coverage on Alder BioPharmaceuticals in a report on Wednesday. They issued a “buy” rating and a $32.00 price objective on the stock. Needham & Company LLC assumed coverage on Alder BioPharmaceuticals in a research report on Monday, May 15th. They issued a “buy” rating and a $36.00 target price on the stock. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $51.00 target price on shares of Alder BioPharmaceuticals in a research report on Wednesday, June 28th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $32.38.

The firm has a 50 day moving average price of $9.90 and a 200-day moving average price of $16.53. The stock’s market cap is $683.90 million.

Alder BioPharmaceuticals (NASDAQ:ALDR) last posted 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. The business’s revenue was up 518.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.79) EPS. On average, equities analysts expect that Alder BioPharmaceuticals, Inc. will post ($5.79) earnings per share for the current year.

In related news, Director Stephen M. Dow purchased 25,000 shares of the stock in a transaction dated Tuesday, July 18th. The shares were acquired at an average cost of $10.00 per share, for a total transaction of $250,000.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 10.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC acquired a new position in Alder BioPharmaceuticals during the 2nd quarter worth $36,956,000. Redmile Group LLC raised its position in shares of Alder BioPharmaceuticals by 107.5% during the first quarter. Redmile Group LLC now owns 1,909,886 shares of the biopharmaceutical company’s stock valued at $39,726,000 after buying an additional 989,336 shares during the last quarter. Eagle Asset Management Inc. raised its position in shares of Alder BioPharmaceuticals by 52.0% during the second quarter. Eagle Asset Management Inc. now owns 1,756,507 shares of the biopharmaceutical company’s stock valued at $20,112,000 after buying an additional 601,242 shares during the last quarter. Emerald Advisers Inc. PA raised its position in shares of Alder BioPharmaceuticals by 98.3% during the second quarter. Emerald Advisers Inc. PA now owns 1,193,672 shares of the biopharmaceutical company’s stock valued at $13,668,000 after buying an additional 591,840 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its position in shares of Alder BioPharmaceuticals by 125.5% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 942,709 shares of the biopharmaceutical company’s stock valued at $10,794,000 after buying an additional 524,746 shares during the last quarter. 76.16% of the stock is owned by institutional investors and hedge funds.

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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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