Alder BioPharmaceuticals Inc. (ALDR) Receives New Coverage from Analysts at Brean Capital
Brean Capital began coverage on shares of Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) in a research note published on Friday morning. The firm issued a buy rating and a $45.00 price objective on the biopharmaceutical company’s stock.
“We anticipate ALD403 US drug sales reaching $1 billion annually well before patent expiration in 2032,” analyst Difei Yang wrote in a note.Yang noted that the ALD403 has huge market potential as recent data from Migraine Research Foundation says each year in the United States about 10 million to 14 million adults experience frequent or chronic migraines, leading to nearly $13 billion in lost productivity in the United States alone.”A primary advantage of ALDR403 vs. other close-to-market CGRP’s is its dosing schedule, which consists of a single IV treatment every 3 months. The remaining 3 CGRP’s in late-stage development rely on monthly subcutaneous injections,,” Brean Capital’s analyst commented.
Several other analysts also recently weighed in on the company. Jefferies Group restated a buy rating and set a $62.00 target price on shares of Alder BioPharmaceuticals in a research note on Wednesday, September 28th. Zacks Investment Research upgraded Alder BioPharmaceuticals from a hold rating to a buy rating and set a $38.00 target price for the company in a research note on Tuesday, September 27th. Finally, JPMorgan Chase & Co. assumed coverage on Alder BioPharmaceuticals in a research note on Tuesday, September 13th. They set an overweight rating and a $40.00 target price for the company. Seven research analysts have rated the stock with a buy rating, The company has a consensus rating of Buy and an average price target of $45.00.
Alder BioPharmaceuticals (NASDAQ:ALDR) traded down 4.58% on Friday, reaching $31.27. The company had a trading volume of 116,750 shares. The company has a 50-day moving average of $32.25 and a 200 day moving average of $28.01. Alder BioPharmaceuticals has a one year low of $15.82 and a one year high of $39.43. The stock’s market cap is $1.57 billion.
Alder BioPharmaceuticals (NASDAQ:ALDR) last announced its earnings results on Tuesday, July 26th. The biopharmaceutical company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.75) by $0.04. The company earned $0.11 million during the quarter, compared to analysts’ expectations of $1.14 million. During the same period last year, the firm posted ($0.46) EPS. The firm’s revenue for the quarter was up 112900.0% compared to the same quarter last year. On average, equities research analysts predict that Alder BioPharmaceuticals will post ($3.33) EPS for the current year.
In related news, VP Jeffrey T. L. Smith sold 3,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was 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 of the company’s stock, valued at approximately $97,470. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Randall C. Schatzman sold 10,000 shares of the firm’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 $3,503,485.44. The disclosure for this sale can be found here. 11.50% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in ALDR. Birchview Capital LP acquired a new stake in Alder BioPharmaceuticals during the second quarter worth $129,000. Teacher Retirement System of Texas boosted its stake in Alder BioPharmaceuticals by 85.5% in the second quarter. Teacher Retirement System of Texas now owns 5,393 shares of the biopharmaceutical company’s stock worth $135,000 after buying an additional 2,485 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Alder BioPharmaceuticals during the second quarter worth $206,000. Legal & General Group Plc boosted its stake in Alder BioPharmaceuticals by 57.6% in the first quarter. Legal & General Group Plc now owns 8,349 shares of the biopharmaceutical company’s stock worth $203,000 after buying an additional 3,053 shares in the last quarter. Finally, M&T Bank Corp acquired a new stake in Alder BioPharmaceuticals during the second quarter worth $265,000.
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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