Analysts Set Alder BioPharmaceuticals, Inc. (ALDR) Target Price at $31.15
Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) has been assigned an average recommendation of “Buy” from the sixteen research firms that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $31.15.
Several research analysts have weighed in on the company. ValuEngine upgraded Alder BioPharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 20th. Leerink Swann reiterated an “outperform” rating and set a $32.00 target price on shares of Alder BioPharmaceuticals in a report on Monday, June 12th. Needham & Company LLC reiterated a “buy” rating and set a $36.00 target price on shares of Alder BioPharmaceuticals in a report on Friday, June 9th. Wells Fargo & Company reiterated an “outperform” rating and set a $51.00 target price on shares of Alder BioPharmaceuticals in a report on Wednesday, June 28th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $47.00 target price on shares of Alder BioPharmaceuticals in a report on Wednesday, June 28th.
Shares of Alder BioPharmaceuticals (NASDAQ ALDR) traded up 6.99% during midday trading on Wednesday, reaching $12.25. The company had a trading volume of 1,756,242 shares. The firm’s market cap is $829.48 million. The company’s 50-day moving average is $9.64 and its 200-day moving average is $15.75. Alder BioPharmaceuticals has a 52-week low of $8.60 and a 52-week high of $34.64.
Alder BioPharmaceuticals (NASDAQ:ALDR) last posted its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.48) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.67) by $0.19. The business had revenue of $0.68 million for the quarter. The company’s quarterly revenue was up 518.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.79) EPS. Equities research analysts expect that Alder BioPharmaceuticals will post ($5.60) EPS for the current fiscal year.
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In related news, Director Stephen M. Dow bought 25,000 shares of the company’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.60% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALDR. Bank of Montreal Can raised its holdings in Alder BioPharmaceuticals by 3,047.2% during the first quarter. Bank of Montreal Can now owns 5,602 shares of the biopharmaceutical company’s stock worth $117,000 after acquiring an additional 5,424 shares in the last quarter. Legal & General Group Plc raised its holdings in Alder BioPharmaceuticals by 2.6% during the second quarter. Legal & General Group Plc now owns 15,496 shares of the biopharmaceutical company’s stock worth $177,000 after acquiring an additional 400 shares in the last quarter. SG Americas Securities LLC raised its holdings in Alder BioPharmaceuticals by 109.4% during the second quarter. SG Americas Securities LLC now owns 15,580 shares of the biopharmaceutical company’s stock worth $178,000 after acquiring an additional 8,140 shares in the last quarter. Stifel Financial Corp bought a new stake in Alder BioPharmaceuticals during the first quarter worth about $206,000. Finally, Voya Investment Management LLC raised its holdings in Alder BioPharmaceuticals by 8.4% during the second quarter. Voya Investment Management LLC now owns 22,304 shares of the biopharmaceutical company’s stock worth $255,000 after acquiring an additional 1,734 shares in the last quarter. Institutional investors and hedge funds own 76.16% of the company’s stock.
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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