Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) has been given a $47.00 target price by equities researchers at Piper Jaffray Cos. in a research note issued on Friday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Piper Jaffray Cos.’s target price indicates a potential upside of 75.37% from the company’s current price.

Other research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Alder BioPharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday. JPMorgan Chase & Co. began coverage on Alder BioPharmaceuticals in a report on Tuesday, September 13th. They set an “overweight” rating and a $40.00 target price on the stock. BMO Capital Markets started coverage on Alder BioPharmaceuticals in a report on Thursday, November 10th. They set an “outperform” rating and a $42.00 target price on the stock. Brean Capital started coverage on Alder BioPharmaceuticals in a research report on Friday, September 30th. They issued a “buy” rating and a $45.00 price target on the stock. Finally, Credit Suisse Group AG reissued a “buy” rating and issued a $38.00 price target on shares of Alder BioPharmaceuticals in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $43.38.

Analyst Recommendations for Alder BioPharmaceuticals (NASDAQ:ALDR)

Alder BioPharmaceuticals (NASDAQ:ALDR) traded up 4.69% during mid-day trading on Friday, reaching $26.80. The company’s stock had a trading volume of 297,293 shares. Alder BioPharmaceuticals has a 12-month low of $15.82 and a 12-month high of $38.74. The firm’s market cap is $1.35 billion. The company has a 50-day moving average price of $28.00 and a 200-day moving average price of $29.05.

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, topping analysts’ consensus estimates of ($0.85) by $0.15. During the same period in the previous year, the company posted ($0.62) EPS. On average, equities research analysts expect that Alder BioPharmaceuticals will post ($3.13) earnings per share for the current 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 that occurred on Thursday, September 1st. The stock was sold at an average price of $32.49, for a total value of $97,470.00. Following the transaction, the vice president now directly 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, insider Randall C. Schatzman sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $32.48, for a total value of $324,800.00. Following the completion of the transaction, 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 corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Alder BioPharmaceuticals by 12.8% in the second quarter. FMR LLC now owns 7,404,134 shares of the biopharmaceutical company’s stock valued at $184,881,000 after buying an additional 840,549 shares during the period. Vanguard Group Inc. boosted its position 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 valued at $77,220,000 after buying an additional 893,334 shares during the period. BlackRock Fund Advisors boosted its position in Alder BioPharmaceuticals by 5.7% in the third quarter. BlackRock Fund Advisors now owns 1,854,944 shares of the biopharmaceutical company’s stock valued at $60,787,000 after buying an additional 100,431 shares during the period. BB Biotech AG boosted its position in Alder BioPharmaceuticals by 11.6% in the second quarter. BB Biotech AG now owns 1,685,150 shares of the biopharmaceutical company’s stock valued at $42,078,000 after buying an additional 175,000 shares during the period. Finally, State Street Corp boosted its position in Alder BioPharmaceuticals by 8.0% in the second quarter. State Street Corp now owns 1,291,370 shares of the biopharmaceutical company’s stock valued at $32,237,000 after buying an additional 95,570 shares during the period.

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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