Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, July 11th. The firm presently has a $13.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 37.57% from the company’s previous close.

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. “

Other equities research analysts have also issued research reports about the stock. UBS AG assumed coverage on shares of Alder BioPharmaceuticals in a report on Friday, May 5th. They set a “sell” rating and a $13.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 price objective on shares of Alder BioPharmaceuticals in a research note on Friday, June 9th. Leerink Swann reiterated an “outperform” rating and issued a $32.00 price objective on shares of Alder BioPharmaceuticals in a research note on Monday, June 12th. Aegis reiterated a “buy” rating and issued a $41.00 price objective on shares of Alder BioPharmaceuticals in a research note on Tuesday, April 25th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $43.00 price objective on shares of Alder BioPharmaceuticals in a research note on Monday, April 17th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $35.00.

Shares of Alder BioPharmaceuticals (NASDAQ:ALDR) traded down 4.55% during mid-day trading on Tuesday, reaching $9.45. 2,276,151 shares of the company were exchanged. The company’s 50 day moving average price is $13.55 and its 200 day moving average price is $18.85. The firm’s market capitalization is $476.37 million. Alder BioPharmaceuticals has a 12 month low of $9.40 and a 12 month high of $36.48.

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In other news, Director Stephen M. Dow acquired 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The stock was acquired at an average cost of $10.00 per share, with a total value of $250,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 10.60% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Janus Capital Management LLC increased its stake in Alder BioPharmaceuticals by 4.7% in the first quarter. Janus Capital Management LLC now owns 5,167,085 shares of the biopharmaceutical company’s stock valued at $107,473,000 after buying an additional 230,044 shares in the last quarter. Wellington Management Group LLP increased its stake in Alder BioPharmaceuticals by 0.7% in the first quarter. Wellington Management Group LLP now owns 3,640,788 shares of the biopharmaceutical company’s stock valued at $75,728,000 after buying an additional 26,791 shares in the last quarter. Vanguard Group Inc. increased its stake in Alder BioPharmaceuticals by 6.0% in the first quarter. Vanguard Group Inc. now owns 3,438,702 shares of the biopharmaceutical company’s stock valued at $71,524,000 after buying an additional 194,185 shares in the last quarter. Redmile Group LLC increased its stake in Alder BioPharmaceuticals by 107.5% in the first quarter. Redmile Group LLC now owns 1,909,886 shares of the biopharmaceutical company’s stock valued at $39,726,000 after buying an additional 989,336 shares in the last quarter. Finally, State Street Corp increased its stake in Alder BioPharmaceuticals by 1.0% in the first quarter. State Street Corp now owns 1,777,113 shares of the biopharmaceutical company’s stock valued at $36,966,000 after buying an additional 18,426 shares in the last quarter. 81.18% of the stock is owned by institutional investors and hedge funds.

About Alder BioPharmaceuticals

Alder BioPharmaceuticals, Inc, is a clinical-stage biopharmaceutical company that discovers, develops and seeks to commercialize genetically engineered therapeutic antibodies with the potential to meaningfully transform current treatment paradigms. Alder’s lead pivotal-stage product candidate, eptinezumab, is being evaluated for migraine prevention.

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