Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) saw unusually-high trading volume on Friday . Approximately 6,546,066 shares were traded during mid-day trading, an increase of 246% from the previous session’s volume of 1,892,510 shares.The stock last traded at $10.20 and had previously closed at $9.95.

Several equities research analysts have issued reports on the stock. Needham & Company LLC set a $36.00 price objective on shares of Alder BioPharmaceuticals and gave the stock a “buy” rating in a research note on Monday, July 17th. Zacks Investment Research upgraded shares of Alder BioPharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Tuesday, July 11th. Aegis reiterated a “buy” rating and set a $41.00 price objective on shares of Alder BioPharmaceuticals in a research note on Wednesday, July 5th. Mizuho assumed coverage on shares of Alder BioPharmaceuticals in a research note on Wednesday, September 6th. They set a “buy” rating and a $32.00 price objective for the company. Finally, Credit Suisse Group set a $11.00 price objective on shares of Alder BioPharmaceuticals and gave the stock a “hold” rating in a research note on Thursday, August 24th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.62.

The stock’s market capitalization is $690.67 million. The firm’s 50-day moving average is $9.66 and its 200 day moving average is $16.05.

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 consensus estimate of ($1.67) by $0.19. The company had revenue of $0.68 million for the quarter. During the same quarter in the previous year, the business posted ($0.79) EPS. The firm’s revenue was up 518.2% on a year-over-year basis. Analysts anticipate that Alder BioPharmaceuticals, Inc. will post ($5.74) EPS for the current fiscal year.

In related news, Director Stephen M. Dow acquired 25,000 shares of the stock in a transaction dated Tuesday, July 18th. The shares were acquired 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 at this hyperlink. Company insiders own 10.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in ALDR. Asymmetry Capital Management L.P. boosted its stake in Alder BioPharmaceuticals by 320.1% during the second quarter. Asymmetry Capital Management L.P. now owns 166,752 shares of the biopharmaceutical company’s stock worth $1,909,000 after buying an additional 127,056 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Alder BioPharmaceuticals by 1.9% during the second quarter. The Manufacturers Life Insurance Company now owns 37,488 shares of the biopharmaceutical company’s stock worth $430,000 after buying an additional 698 shares in the last quarter. Redmile Group LLC boosted its stake in Alder BioPharmaceuticals by 16.4% during the second quarter. Redmile Group LLC now owns 2,223,811 shares of the biopharmaceutical company’s stock worth $25,463,000 after buying an additional 313,925 shares in the last quarter. State Street Corp boosted its stake in Alder BioPharmaceuticals by 9.4% during the second quarter. State Street Corp now owns 1,944,755 shares of the biopharmaceutical company’s stock worth $22,267,000 after buying an additional 167,642 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its stake in Alder BioPharmaceuticals by 13.4% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 30,520 shares of the biopharmaceutical company’s stock worth $349,000 after buying an additional 3,616 shares in the last quarter. Institutional investors and hedge funds own 76.16% of the company’s stock.

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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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