Alder BioPharmaceuticals Inc. (ALDR) Rating Reiterated by BMO Capital Markets
Alder BioPharmaceuticals Inc. (NASDAQ:ALDR)‘s stock had its “buy” rating reaffirmed by analysts at BMO Capital Markets in a report issued on Tuesday.
Several other research firms have also recently weighed in on ALDR. Zacks Investment Research upgraded shares of Alder BioPharmaceuticals from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Tuesday, September 27th. Jefferies Group reiterated a “buy” rating and issued a $62.00 target price on shares of Alder BioPharmaceuticals in a research note on Wednesday, September 28th. Brean Capital assumed coverage on shares of Alder BioPharmaceuticals in a research note on Friday, September 30th. They issued a “buy” rating and a $45.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on shares of Alder BioPharmaceuticals in a research note on Tuesday, September 13th. They issued an “overweight” rating and a $40.00 target price on the stock. Finally, Piper Jaffray Cos. reiterated a “buy” rating and issued a $47.00 target price on shares of Alder BioPharmaceuticals in a research note on Thursday, November 17th. Ten analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average price target of $43.38.
Alder BioPharmaceuticals (NASDAQ:ALDR) opened at 25.60 on Tuesday. The firm has a 50-day moving average of $28.19 and a 200 day moving average of $29.04. The company’s market capitalization is $1.29 billion. Alder BioPharmaceuticals has a 12-month low of $15.82 and a 12-month high of $39.43.
Alder BioPharmaceuticals (NASDAQ:ALDR) last released its quarterly 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 previous year, the firm earned ($0.62) EPS. Analysts forecast that Alder BioPharmaceuticals will post ($3.13) EPS for the current fiscal year.
In related news, VP Jeffrey T. L. Smith sold 3,000 shares of the company’s stock in a transaction that occurred on 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 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 accessible through this hyperlink. Also, CEO Randall C. Schatzman sold 10,000 shares of the company’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 transaction of $251,600.00. Following the sale, the chief executive officer now directly owns 124,768 shares in the company, valued at approximately $3,139,162.88. The disclosure for this sale can be found here. Corporate insiders own 11.50% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Alder BioPharmaceuticals by 40.6% in the second quarter. Vanguard Group Inc. now owns 3,092,518 shares of the biopharmaceutical company’s stock worth $77,220,000 after buying an additional 893,334 shares in the last quarter. FMR LLC increased its stake in Alder BioPharmaceuticals by 12.8% in the second quarter. FMR LLC now owns 7,404,134 shares of the biopharmaceutical company’s stock worth $184,881,000 after buying an additional 840,549 shares in the last quarter. Marshall Wace LLP increased its stake in Alder BioPharmaceuticals by 439.6% in the second quarter. Marshall Wace LLP now owns 944,459 shares of the biopharmaceutical company’s stock worth $23,583,000 after buying an additional 769,439 shares in the last quarter. Redmile Group LLC bought a new stake in Alder BioPharmaceuticals during the third quarter worth about $23,022,000. Finally, Senator Investment Group LP bought a new stake in Alder BioPharmaceuticals during the second quarter worth about $17,511,000.
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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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