Alder BioPharmaceuticals Inc. (ALDR) Rating Increased to Buy at Zacks Investment Research
Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage currently has a $38.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research’s price target would suggest a potential upside of 13.94% from the stock’s current price.
According to Zacks, “Alder Biopharmaceuticals Inc. is a clinical-stage biopharmaceutical company. It discovers, develops and seeks to commercialize therapeutic antibodies. It is developing monoclonal antibodies comprising ALD403, for the prevention of migraine; and Clazakizumab, in the treatment of rheumatoid arthritis and psoriatic arthritis. Alder Biopharmaceuticals Inc. is headquartered in Bothell, Washington. “
Several other research analysts have also commented on the stock. JPMorgan Chase & Co. initiated coverage on shares of Alder BioPharmaceuticals in a research note on Tuesday, September 13th. They set an “overweight” rating and a $40.00 price objective for the company. Jefferies Group restated a “buy” rating on shares of Alder BioPharmaceuticals in a research note on Tuesday, August 23rd. Finally, Brean Capital restated a “positive” rating and set a $45.00 price target on shares of Alder BioPharmaceuticals in a research note on Wednesday, July 27th. Seven investment analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $45.00.
Shares of Alder BioPharmaceuticals (NASDAQ:ALDR) opened at 33.35 on Tuesday. Alder BioPharmaceuticals has a 12 month low of $15.82 and a 12 month high of $39.43. The company’s market capitalization is $1.67 billion. The stock’s 50 day moving average is $32.14 and its 200 day moving average is $27.89.
Alder BioPharmaceuticals (NASDAQ:ALDR) last posted its quarterly earnings data on Tuesday, July 26th. The biopharmaceutical company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.75) by $0.04. The company had revenue of $0.11 million for the quarter, compared to analysts’ expectations of $1.14 million. The firm’s quarterly revenue was up 112900.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.46) EPS. On average, equities analysts predict that Alder BioPharmaceuticals will post ($2.87) EPS for the current fiscal year.
In other news, insider Randall C. Schatzman sold 10,000 shares of the company’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $28.08, for a total value of $280,800.00. Following the sale, the insider now directly owns 124,768 shares of the company’s stock, valued at approximately $3,503,485.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jeffrey T. L. Smith sold 3,000 shares of the company’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $32.49, for a total transaction of $97,470.00. Following the completion of the sale, the vice president now directly owns 3,000 shares in the company, valued at $97,470. The disclosure for this sale can be found here. Company insiders own 11.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in ALDR. FMR LLC increased its stake in Alder BioPharmaceuticals by 12.8% in the second quarter. FMR LLC now owns 7,404,134 shares of the biopharmaceutical company’s stock valued at $184,881,000 after buying an additional 840,549 shares during the period. Wellington Management Group LLP increased its stake in Alder BioPharmaceuticals by 133.2% in the first quarter. Wellington Management Group LLP now owns 3,156,865 shares of the biopharmaceutical company’s stock valued at $77,310,000 after buying an additional 1,803,110 shares during the period. Vanguard Group Inc. increased its stake in Alder BioPharmaceuticals by 40.6% in the second quarter. Vanguard Group Inc. now owns 3,092,518 shares of the biopharmaceutical company’s stock valued at $77,220,000 after buying an additional 893,334 shares during the period. BlackRock Fund Advisors increased its stake in Alder BioPharmaceuticals by 54.3% in the second quarter. BlackRock Fund Advisors now owns 1,754,513 shares of the biopharmaceutical company’s stock valued at $43,810,000 after buying an additional 617,690 shares during the period. Finally, BB Biotech AG increased its stake in Alder BioPharmaceuticals by 11.6% in the second quarter. BB Biotech AG now owns 1,685,150 shares of the biopharmaceutical company’s stock valued at $42,078,000 after buying an additional 175,000 shares during the period.
Alder BioPharmaceuticals Company Profile
Alder Biopharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company discovers, develops and focuses to commercialize therapeutic antibodies with the potential to transform current treatment paradigms. The Company has developed an antibody platform designed to select antibodies that have the potential to maximize efficacy, as well as speed of onset and durability of therapeutic response.
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