Alder BioPharmaceuticals Inc. (ALDR) Stock Rating Reaffirmed by Piper Jaffray Cos.
Alder BioPharmaceuticals Inc. (NASDAQ:ALDR)‘s stock had its “buy” rating reaffirmed by investment analysts at Piper Jaffray Cos. in a research note issued on Thursday. They currently have a $47.00 price objective on the biopharmaceutical company’s stock. Piper Jaffray Cos.’s price target points to a potential upside of 63.48% from the company’s current price.
ALDR has been the subject of several other research reports. Zacks Investment Research raised Alder BioPharmaceuticals from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Wednesday, July 20th. 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. Jefferies Group boosted their price objective on Alder BioPharmaceuticals from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. JPMorgan Chase & Co. initiated coverage on Alder BioPharmaceuticals in a report on Tuesday, September 13th. They set an “overweight” rating and a $40.00 price objective for the company. Finally, Aegis initiated coverage on Alder BioPharmaceuticals in a report on Monday, November 7th. They set a “buy” rating and a $41.00 price objective for the company. Ten equities research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of $43.63.
Alder BioPharmaceuticals (NASDAQ:ALDR) opened at 28.75 on Thursday. Alder BioPharmaceuticals has a one year low of $15.82 and a one year high of $39.43. The company has a 50-day moving average of $28.69 and a 200-day moving average of $29.02. The company’s market cap is $1.45 billion.
Alder BioPharmaceuticals (NASDAQ:ALDR) last posted its earnings results on Thursday, October 27th. The biopharmaceutical company reported ($0.70) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.85) by $0.15. During the same period in the previous year, the business posted ($0.62) EPS. Equities research analysts expect that Alder BioPharmaceuticals will post ($3.13) EPS for the current fiscal year.
In other Alder BioPharmaceuticals news, CEO Randall C. Schatzman sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $25.16, for a total value of $251,600.00. Following the completion of the sale, the chief executive officer now owns 124,768 shares in the company, valued at $3,139,162.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jeffrey T. L. Smith sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $31.14, for a total value of $93,420.00. Following the completion of the sale, the vice president now owns 3,000 shares of the company’s stock, valued at approximately $93,420. The disclosure for this sale can be found here. 11.50% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. BlackRock Fund Advisors increased its stake in shares of Alder BioPharmaceuticals by 4.2% in the first quarter. BlackRock Fund Advisors now owns 1,136,823 shares of the biopharmaceutical company’s stock valued at $27,841,000 after buying an additional 45,908 shares during the last quarter. Cormorant Asset Management LLC increased its position in shares of 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 in the last quarter. Bank of New York Mellon Corp increased its position in shares of Alder BioPharmaceuticals by 85.8% in the second quarter. Bank of New York Mellon Corp now owns 197,768 shares of the biopharmaceutical company’s stock worth $4,938,000 after buying an additional 91,328 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Alder BioPharmaceuticals during the second quarter worth approximately $5,990,000. Finally, Swiss National Bank increased its position in shares of Alder BioPharmaceuticals by 72.7% in the second quarter. Swiss National Bank now owns 63,542 shares of the biopharmaceutical company’s stock worth $1,587,000 after buying an additional 26,742 shares in 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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