Alder Biopharmaceuticals (ALDR) Coverage Initiated by Analysts at Cantor Fitzgerald
Cantor Fitzgerald assumed coverage on shares of Alder Biopharmaceuticals (NASDAQ:ALDR) in a report released on Wednesday, MarketBeat reports. The firm issued a neutral rating and a $21.00 target price on the biopharmaceutical company’s stock.
Several other research analysts have also recently issued reports on ALDR. BidaskClub cut Alder Biopharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, June 26th. ValuEngine upgraded Alder Biopharmaceuticals from a hold rating to a buy rating in a research report on Thursday, June 28th. Zacks Investment Research upgraded Alder Biopharmaceuticals from a hold rating to a buy rating and set a $21.00 price objective for the company in a research report on Monday, August 20th. Finally, Canaccord Genuity increased their price objective on Alder Biopharmaceuticals from $20.00 to $22.00 and gave the stock a buy rating in a research report on Thursday, August 9th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $23.17.
NASDAQ:ALDR opened at $17.70 on Wednesday. The company has a current ratio of 10.88, a quick ratio of 10.88 and a debt-to-equity ratio of 0.73. Alder Biopharmaceuticals has a 1 year low of $9.20 and a 1 year high of $20.87.
In other news, Director Jeffrey T. L. Smith sold 12,161 shares of the firm’s stock in a transaction on Friday, June 1st. The stock was sold at an average price of $17.85, for a total value of $217,073.85. Following the completion of the transaction, the director now owns 7,952 shares in the company, valued at $141,943.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider John A. Latham sold 24,999 shares of the firm’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $15.48, for a total value of $386,984.52. Following the completion of the transaction, the insider now owns 268,692 shares of the company’s stock, valued at approximately $4,159,352.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,087 shares of company stock valued at $1,785,094. Company insiders own 17.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Fox Run Management L.L.C. purchased a new stake in Alder Biopharmaceuticals during the 2nd quarter worth about $198,000. Candriam Luxembourg S.C.A. increased its position in Alder Biopharmaceuticals by 74.3% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 176,000 shares of the biopharmaceutical company’s stock worth $2,235,000 after purchasing an additional 75,000 shares in the last quarter. Neuburgh Advisers LLC purchased a new stake in Alder Biopharmaceuticals during the 1st quarter worth about $121,000. Shepherd Kaplan Krochuk LLC purchased a new stake in Alder Biopharmaceuticals during the 1st quarter worth about $151,000. Finally, Cubist Systematic Strategies LLC increased its position in Alder Biopharmaceuticals by 14.1% during the 1st quarter. Cubist Systematic Strategies LLC now owns 27,614 shares of the biopharmaceutical company’s stock worth $351,000 after purchasing an additional 3,405 shares in the last quarter.
About Alder Biopharmaceuticals
Alder BioPharmaceuticals, Inc operates as a clinical-stage biopharmaceutical company. It discovers, develops, and commercializes therapeutic antibodies to transform the treatment paradigm for patients with migraine and other serious neurological or inflammatory conditions in the United States, Australia, and Ireland.
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