Alder BioPharmaceuticals Inc. (ALDR) Downgraded by Zacks Investment Research to Hold
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 firms have also recently commented on ALDR. Brean Capital started coverage on shares of Alder BioPharmaceuticals in a research note on Friday, September 30th. They set a buy rating and a $45.00 price target on the stock. JPMorgan Chase & Co. started coverage on shares of Alder BioPharmaceuticals in a research note on Tuesday, September 13th. They set an overweight rating and a $40.00 price target on the stock. Finally, Jefferies Group increased their price target on shares of Alder BioPharmaceuticals from $61.00 to $62.00 and gave the company a buy rating in a research note on Wednesday, July 27th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $45.00.
Alder BioPharmaceuticals (NASDAQ:ALDR) traded down 2.24% during trading on Thursday, reaching $27.55. 158,685 shares of the company’s stock traded hands. Alder BioPharmaceuticals has a 12 month low of $15.82 and a 12 month high of $39.43. The firm’s 50 day moving average is $32.00 and its 200 day moving average is $28.73. The company’s market cap is $1.38 billion.
Alder BioPharmaceuticals (NASDAQ:ALDR) last released its quarterly earnings results on Tuesday, July 26th. The biopharmaceutical company reported ($0.79) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.75) by $0.04. The firm had revenue of $0.11 million for the quarter, compared to analyst estimates of $1.14 million. During the same quarter in the prior year, the business earned ($0.46) earnings per share. Alder BioPharmaceuticals’s revenue was up 112900.0% compared to the same quarter last year. Analysts anticipate that Alder BioPharmaceuticals will post ($3.33) EPS for the current year.
In related news, insider John A. Latham sold 10,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $31.32, for a total transaction of $313,200.00. Following the sale, the insider now directly owns 252,200 shares in the company, valued at $7,898,904. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jeffrey T. L. Smith sold 3,000 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $31.17, for a total transaction of $93,510.00. Following the sale, the vice president now owns 3,000 shares in the company, valued at $93,510. The disclosure for this sale can be found here. Corporate insiders own 11.50% of the company’s stock.
Large investors have recently modified their holdings of the company. Daiwa SB Investments Ltd. bought a new stake in shares of Alder BioPharmaceuticals during the third quarter worth approximately $524,000. BNP Paribas Arbitrage SA raised its stake in shares of Alder BioPharmaceuticals by 110.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,844 shares of the biopharmaceutical company’s stock worth $126,000 after buying an additional 2,016 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Alder BioPharmaceuticals by 43.5% in the second quarter. Macquarie Group Ltd. now owns 100,450 shares of the biopharmaceutical company’s stock worth $2,508,000 after buying an additional 30,450 shares during the last quarter. Royal Bank of Canada bought a new stake in shares of Alder BioPharmaceuticals during the second quarter worth approximately $4,253,000. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Alder BioPharmaceuticals by 76.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 158,058 shares of the biopharmaceutical company’s stock worth $3,947,000 after buying an additional 68,610 shares during the last quarter.
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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