Alder BioPharmaceuticals Inc. (ALDR) Given a $41.00 Price Target at Aegis
ALDR has been the subject of a number of other reports. Brean Capital began coverage on Alder BioPharmaceuticals in a report on Friday, September 30th. They set a buy rating and a $45.00 price objective for the company. JPMorgan Chase & Co. began 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. BMO Capital Markets restated a buy rating on shares of Alder BioPharmaceuticals in a report on Tuesday. Zacks Investment Research downgraded Alder BioPharmaceuticals from a buy rating to a hold rating in a report on Thursday, October 13th. Finally, Credit Suisse Group AG restated a buy rating and set a $38.00 price objective on shares of Alder BioPharmaceuticals in a report on Tuesday. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Alder BioPharmaceuticals presently has an average rating of Buy and a consensus target price of $43.38.
Alder BioPharmaceuticals (NASDAQ:ALDR) traded up 4.69% during mid-day trading on Thursday, reaching $26.80. The company’s stock had a trading volume of 297,293 shares. The stock’s 50 day moving average price is $28.00 and its 200 day moving average price is $29.05. Alder BioPharmaceuticals has a 1-year low of $15.82 and a 1-year high of $38.74. The stock’s market capitalization is $1.35 billion.
Alder BioPharmaceuticals (NASDAQ:ALDR) last issued its quarterly earnings results on Thursday, October 27th. The biopharmaceutical company reported ($0.70) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.85) by $0.15. During the same period last year, the company earned ($0.62) earnings per share. Analysts expect that Alder BioPharmaceuticals will post ($3.13) EPS for the current fiscal year.
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In related news, VP Jeffrey T. L. Smith sold 3,000 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now directly owns 3,000 shares of the company’s stock, valued at approximately $97,470. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Randall C. Schatzman sold 10,000 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $32.48, for a total transaction of $324,800.00. Following the sale, the insider now directly owns 124,768 shares of the company’s stock, valued at $4,052,464.64. The disclosure for this sale can be found here. Corporate insiders own 11.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. BlackRock Fund Advisors boosted 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 worth $27,841,000 after buying an additional 45,908 shares during the period. State Street Corp boosted its stake in shares of Alder BioPharmaceuticals by 20.2% in the first quarter. State Street Corp now owns 1,195,800 shares of the biopharmaceutical company’s stock worth $29,282,000 after buying an additional 200,566 shares during the period. HBK Investments L P purchased a new position in Alder BioPharmaceuticals during the first quarter worth $282,000. Smith Asset Management Group LP purchased a new position in Alder BioPharmaceuticals during the second quarter worth $269,000. Finally, American Century Companies Inc. boosted its position 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 last quarter.
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.
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