BidaskClub cut shares of Alder Biopharmaceuticals (NASDAQ:ALDR) from a hold rating to a sell rating in a research note released on Tuesday morning.

A number of other brokerages have also recently commented on ALDR. Leerink Swann reaffirmed an outperform rating on shares of Alder Biopharmaceuticals in a research report on Sunday, March 4th. BMO Capital Markets reaffirmed a buy rating and set a $22.00 price target on shares of Alder Biopharmaceuticals in a research report on Wednesday, January 3rd. Mizuho reaffirmed a buy rating and set a $29.00 price target on shares of Alder Biopharmaceuticals in a research report on Wednesday, January 31st. ValuEngine raised shares of Alder Biopharmaceuticals from a strong sell rating to a sell rating in a research report on Thursday, January 4th. Finally, Zacks Investment Research cut shares of Alder Biopharmaceuticals from a hold rating to a sell rating in a research report on Thursday, January 11th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $28.14.

Shares of Alder Biopharmaceuticals (NASDAQ ALDR) opened at $11.35 on Tuesday. Alder Biopharmaceuticals has a 1 year low of $8.60 and a 1 year high of $22.50.

Alder Biopharmaceuticals (NASDAQ:ALDR) last issued its quarterly earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.80) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.03) by $0.23. The firm had revenue of $0.94 million for the quarter. During the same quarter in the prior year, the business earned ($0.97) earnings per share. equities analysts forecast that Alder Biopharmaceuticals will post -4.25 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Alder Biopharmaceuticals during the 4th quarter worth about $132,000. Jane Street Group LLC bought a new position in shares of Alder Biopharmaceuticals during the 3rd quarter worth about $184,000. Paloma Partners Management Co bought a new position in shares of Alder Biopharmaceuticals during the 4th quarter worth about $222,000. Teacher Retirement System of Texas bought a new position in shares of Alder Biopharmaceuticals during the 4th quarter worth about $231,000. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Alder Biopharmaceuticals by 611.7% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 23,373 shares of the biopharmaceutical company’s stock worth $286,000 after purchasing an additional 20,089 shares in the last quarter. 99.14% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Alder Biopharmaceuticals (NASDAQ:ALDR)

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