Alder BioPharmaceuticals Inc. (ALDR) Given Buy Rating at Credit Suisse Group AG
Alder BioPharmaceuticals Inc. (NASDAQ:ALDR)‘s stock had its “buy” rating reiterated by investment analysts at Credit Suisse Group AG in a report issued on Tuesday. They currently have a $38.00 price objective on the biopharmaceutical company’s stock. Credit Suisse Group AG’s price objective would suggest a potential upside of 43.67% from the stock’s previous close.
A number of other equities research analysts have also recently weighed in on ALDR. Brean Capital restated a “positive” rating and set a $45.00 price objective on shares of Alder BioPharmaceuticals in a research note on Wednesday, July 27th. Jefferies Group upped their price objective on Alder BioPharmaceuticals from $61.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Zacks Investment Research cut Alder BioPharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. JPMorgan Chase & Co. initiated coverage on Alder BioPharmaceuticals in a research note on Tuesday, September 13th. They set an “overweight” rating and a $40.00 price objective for the company. Finally, Piper Jaffray Cos. initiated coverage on Alder BioPharmaceuticals in a research note on Monday, October 31st. They set an “overweight” rating and a $47.00 price objective for the company. Ten equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average target price of $43.38.
Shares of Alder BioPharmaceuticals (NASDAQ:ALDR) traded down 2.27% on Tuesday, reaching $25.85. The company’s stock had a trading volume of 271,254 shares. The firm has a 50 day moving average price of $28.51 and a 200-day moving average price of $29.07. Alder BioPharmaceuticals has a 12-month low of $15.82 and a 12-month high of $39.43. The stock’s market cap is $1.30 billion.
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 Thomson Reuters’ consensus estimate of ($0.85) by $0.15. During the same period in the previous year, the firm earned ($0.62) earnings per share. Equities research analysts expect that Alder BioPharmaceuticals will post ($3.13) EPS for the current year.
In related news, CEO Randall C. Schatzman sold 8,181 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $31.15, for a total transaction of $254,838.15. Following the sale, the chief executive officer now directly owns 122,949 shares of the company’s stock, valued at $3,829,861.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Randall C. Schatzman sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $32.48, for a total value of $324,800.00. Following the sale, the insider now directly owns 124,768 shares in the company, valued at $4,052,464.64. The disclosure for this sale can be found here. 11.50% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in Alder BioPharmaceuticals during the third quarter valued at approximately $106,000. BNP Paribas Arbitrage SA increased its position 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 in the last quarter. Birchview Capital LP acquired a new position in shares of Alder BioPharmaceuticals during the second quarter worth about $129,000. Teacher Retirement System of Texas increased its position in shares of 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. Finally, PNC Financial Services Group Inc. increased its position in shares of Alder BioPharmaceuticals by 3,363.4% in the third quarter. PNC Financial Services Group Inc. now owns 4,260 shares of the biopharmaceutical company’s stock worth $140,000 after buying an additional 4,137 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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