Shares of Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) were up 5.2% during trading on Thursday . The company traded as high as $11.20 and last traded at $11.05. Approximately 685,500 shares were traded during trading, a decline of 38% from the average daily volume of 1,108,151 shares. The stock had previously closed at $10.50.

A number of analysts have commented on ALDR shares. ValuEngine upgraded shares of Alder BioPharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 30th. Mizuho restated a “buy” rating and set a $32.00 price target on shares of Alder BioPharmaceuticals in a research report on Wednesday, November 8th. Cowen assumed coverage on shares of Alder BioPharmaceuticals in a research report on Tuesday, September 26th. They set an “outperform” rating and a $20.00 price target on the stock. Royal Bank of Canada assumed coverage on shares of Alder BioPharmaceuticals in a report on Thursday, September 14th. They issued an “outperform” rating and a $17.00 target price on the stock. Finally, Canaccord Genuity assumed coverage on shares of Alder BioPharmaceuticals in a report on Thursday, October 26th. They issued a “buy” rating and a $20.00 target price on the stock. Three research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $28.07.

Alder BioPharmaceuticals (NASDAQ:ALDR) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.92) EPS for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.29. During the same quarter in the prior year, the company earned ($0.70) earnings per share. sell-side analysts expect that Alder BioPharmaceuticals, Inc. will post -5.14 EPS for the current fiscal year.

In other news, insider Mark James Litton sold 16,519 shares of Alder BioPharmaceuticals stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $10.80, for a total value of $178,405.20. Following the transaction, the insider now directly owns 116,451 shares of the company’s stock, valued at $1,257,670.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 10.60% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Redmile Group LLC increased its position in shares of Alder BioPharmaceuticals by 16.4% in the second quarter. Redmile Group LLC now owns 2,223,811 shares of the biopharmaceutical company’s stock worth $25,463,000 after acquiring an additional 313,925 shares in the last quarter. Eagle Asset Management Inc. increased its position in shares of Alder BioPharmaceuticals by 52.0% in the second quarter. Eagle Asset Management Inc. now owns 1,756,507 shares of the biopharmaceutical company’s stock worth $20,112,000 after acquiring an additional 601,242 shares in the last quarter. Pinnacle Associates Ltd. purchased a new position in shares of Alder BioPharmaceuticals in the third quarter worth approximately $14,823,000. Asymmetry Capital Management L.P. increased its position in shares of Alder BioPharmaceuticals by 320.1% in the second quarter. Asymmetry Capital Management L.P. now owns 166,752 shares of the biopharmaceutical company’s stock worth $1,909,000 after acquiring an additional 127,056 shares in the last quarter. Finally, Citigroup Inc. increased its position in shares of Alder BioPharmaceuticals by 285.7% in the second quarter. Citigroup Inc. now owns 33,433 shares of the biopharmaceutical company’s stock worth $383,000 after acquiring an additional 24,765 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

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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.

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