Analysts at BMO Capital Markets initiated coverage on shares of Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) in a research report issued to clients and investors on Thursday. The firm set an “outperform” rating and a $42.00 price target on the biopharmaceutical company’s stock. BMO Capital Markets’ price target suggests a potential upside of 30.64% from the company’s previous close.

Several other research analysts also recently commented on the stock. Jefferies Group reissued a “buy” rating and set a $61.00 price objective on shares of Alder BioPharmaceuticals in a report on Tuesday, July 19th. Piper Jaffray Cos. started coverage on shares of Alder BioPharmaceuticals in a report on Monday, October 31st. They set an “overweight” rating and a $47.00 price objective for the company. Zacks Investment Research raised shares of Alder BioPharmaceuticals from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Tuesday, September 27th. Brean Capital reissued a “positive” rating and set a $45.00 price objective on shares of Alder BioPharmaceuticals in a report on Wednesday, July 27th. Finally, Aegis started coverage on shares of Alder BioPharmaceuticals in a report on Monday, November 7th. They set a “buy” rating and a $41.00 price objective for the company. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $44.38.

Analyst Recommendations for Alder BioPharmaceuticals (NASDAQ:ALDR)

Shares of Alder BioPharmaceuticals (NASDAQ:ALDR) opened at 32.15 on Thursday. Alder BioPharmaceuticals has a 1-year low of $15.82 and a 1-year high of $39.43. The company’s market capitalization is $1.62 billion. The company has a 50 day moving average price of $28.99 and a 200 day moving average price of $28.89.

Alder BioPharmaceuticals (NASDAQ:ALDR) last issued its earnings results on Thursday, October 27th. The biopharmaceutical company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.15. During the same quarter in the prior year, the company posted ($0.62) earnings per share. Equities analysts predict that Alder BioPharmaceuticals will post ($3.13) EPS for the current fiscal year.

In other news, insider John A. Latham sold 10,000 shares of the company’s stock in a transaction dated 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 approximately $7,898,904. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jeffrey T. L. Smith sold 3,000 shares of the company’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $32.49, for a total transaction of $97,470.00. Following the sale, the vice president now owns 3,000 shares in the company, valued at $97,470. The disclosure for this sale can be found here. Insiders own 11.50% of the company’s stock.

A number of hedge funds have recently bought and sold shares of ALDR. Emerald Advisers Inc. PA purchased a new stake in Alder BioPharmaceuticals during the second quarter worth $5,898,000. Emerald Mutual Fund Advisers Trust purchased a new stake in Alder BioPharmaceuticals during the second quarter worth $5,990,000. American Century Companies Inc. raised its stake in Alder BioPharmaceuticals by 5.9% in the second quarter. American Century Companies Inc. now owns 77,244 shares of the biopharmaceutical company’s stock worth $1,929,000 after buying an additional 4,274 shares during the period. Smith Asset Management Group LP purchased a new stake in Alder BioPharmaceuticals during the second quarter worth $269,000. Finally, Cormorant Asset Management LLC raised its stake in Alder BioPharmaceuticals by 97.7% in the first quarter. Cormorant Asset Management LLC now owns 1,497,475 shares of the biopharmaceutical company’s stock worth $36,673,000 after buying an additional 740,000 shares during the period.

About Alder BioPharmaceuticals

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.

5 Day Chart for NASDAQ:ALDR

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