Zacks Investment Research upgraded shares of Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) from a hold rating to a buy rating in a report released on Tuesday. Zacks Investment Research currently has $27.00 price objective on the biopharmaceutical company’s stock.

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. “

A number of other research firms have also recently issued reports on ALDR. Brean Capital started coverage on Alder BioPharmaceuticals in a research note on Friday, September 30th. They issued a buy rating and a $45.00 target price for the company. JPMorgan Chase & Co. assumed coverage on Alder BioPharmaceuticals in a research report on Tuesday, September 13th. They set an overweight rating and a $40.00 price objective for the company. BMO Capital Markets reaffirmed a buy rating on shares of Alder BioPharmaceuticals in a research report on Tuesday, November 22nd. Credit Suisse Group AG reaffirmed a buy rating and set a $38.00 price objective on shares of Alder BioPharmaceuticals in a research report on Tuesday, November 22nd. Finally, Piper Jaffray Cos. reaffirmed a buy rating and set a $47.00 price objective on shares of Alder BioPharmaceuticals in a research report on Thursday, November 17th. Ten analysts have rated the stock with a buy rating, Alder BioPharmaceuticals currently has an average rating of Buy and an average target price of $42.13.

Analyst Recommendations for Alder BioPharmaceuticals (NASDAQ:ALDR)

Alder BioPharmaceuticals (NASDAQ:ALDR) opened at 24.25 on Tuesday. The company has a 50 day moving average price of $27.81 and a 200-day moving average price of $29.09. The company’s market capitalization is $1.22 billion. Alder BioPharmaceuticals has a 52 week low of $15.82 and a 52 week high of $38.74.

Alder BioPharmaceuticals (NASDAQ:ALDR) last posted its earnings results on Thursday, October 27th. The biopharmaceutical company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.15. During the same period last year, the firm earned ($0.62) earnings per share. On average, equities analysts anticipate that Alder BioPharmaceuticals will post ($3.13) earnings per share for the current fiscal year.

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In other news, CEO Randall C. Schatzman sold 10,000 shares of the 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 transaction, the chief executive officer now owns 124,768 shares in the company, valued at $3,139,162.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Randall C. Schatzman sold 8,181 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $31.15, for a total value of $254,838.15. Following the transaction, the chief executive officer now owns 122,949 shares in the company, valued at approximately $3,829,861.35. The disclosure for this sale can be found here. Insiders own 11.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in ALDR. SG Americas Securities LLC purchased a new position in shares of Alder BioPharmaceuticals during the third quarter worth $106,000. BNP Paribas Arbitrage SA raised 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 during the period. Birchview Capital LP purchased a new position in shares of Alder BioPharmaceuticals during the second quarter worth $129,000. Teacher Retirement System of Texas raised 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 during the period. Finally, PNC Financial Services Group Inc. raised 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 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.

5 Day Chart for NASDAQ:ALDR

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