Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

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. “

ALDR has been the subject of a number of other reports. Jefferies Group reissued a “buy” rating on shares of Alder BioPharmaceuticals in a report on Tuesday, August 23rd. Aegis assumed coverage on Alder BioPharmaceuticals in a research report on Monday, November 7th. They issued a “buy” rating and a $41.00 price target for the company. Piper Jaffray Cos. assumed coverage on Alder BioPharmaceuticals in a research report on Monday, October 31st. They issued an “overweight” rating and a $47.00 price target for the company. Credit Suisse Group AG restated a “buy” rating and issued a $38.00 price target on shares of Alder BioPharmaceuticals in a research report on Tuesday. Finally, Brean Capital assumed coverage on Alder BioPharmaceuticals in a research report on Friday, September 30th. They issued a “buy” rating and a $45.00 price target for the company. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Alder BioPharmaceuticals currently has an average rating of “Buy” and a consensus target price of $43.38.

Analyst Recommendations for Alder BioPharmaceuticals (NASDAQ:ALDR)

Alder BioPharmaceuticals (NASDAQ:ALDR) remained flat at $25.60 during mid-day trading on Thursday. The stock had a trading volume of 827,253 shares. The company’s 50-day moving average price is $28.19 and its 200 day moving average price is $29.04. Alder BioPharmaceuticals has a one year low of $15.82 and a one year high of $39.43. The company’s market capitalization is $1.29 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 analysts’ consensus estimates of ($0.85) by $0.15. During the same quarter in the previous year, the business earned ($0.62) earnings per share. Analysts anticipate that Alder BioPharmaceuticals will post ($3.13) EPS for the current fiscal year.

In other news, CEO Randall C. Schatzman sold 10,000 shares of Alder BioPharmaceuticals stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 124,768 shares in the company, valued at $3,139,162.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jeffrey T. L. Smith sold 3,000 shares of Alder BioPharmaceuticals stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $31.14, for a total value of $93,420.00. Following the sale, the vice president now owns 3,000 shares of the company’s stock, valued at $93,420. The disclosure for this sale can be found here. Insiders own 11.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ALDR. BlackRock Fund Advisors raised its position 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 in the last quarter. Bank of New York Mellon Corp raised 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 valued at $4,938,000 after buying an additional 91,328 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Alder BioPharmaceuticals during the second quarter valued at approximately $5,990,000. Swiss National Bank raised 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 valued at $1,587,000 after buying an additional 26,742 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in shares of Alder BioPharmaceuticals by 48.0% in the second quarter. Nationwide Fund Advisors now owns 49,699 shares of the biopharmaceutical company’s stock valued at $1,241,000 after buying an additional 16,126 shares in the last quarter.

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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.

5 Day Chart for NASDAQ:ALDR

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