Equities researchers at Mizuho began coverage on shares of Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) in a research note issued on Wednesday. The brokerage set a “buy” rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Alder BioPharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Tuesday, July 11th. Aegis reiterated a “buy” rating and issued a $41.00 price objective on shares of Alder BioPharmaceuticals in a research report on Wednesday, July 5th. Needham & Company LLC started coverage on shares of Alder BioPharmaceuticals in a research report on Monday, May 15th. They set a “buy” rating and a $36.00 target price on the stock. ValuEngine lowered shares of Alder BioPharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 29th. Finally, Credit Suisse Group lowered shares of Alder BioPharmaceuticals from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $30.00 to $17.00 in a research report on Wednesday, June 28th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. Alder BioPharmaceuticals has a consensus rating of “Hold” and a consensus target price of $32.42.

Alder BioPharmaceuticals (NASDAQ:ALDR) traded down 2.11% during trading on Wednesday, hitting $9.30. 950,051 shares of the company traded hands. The company’s 50-day moving average is $10.02 and its 200 day moving average is $16.63. Alder BioPharmaceuticals has a 52-week low of $8.60 and a 52-week high of $35.62. The firm’s market cap is $629.73 million.

Alder BioPharmaceuticals (NASDAQ:ALDR) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.67) by $0.19. The firm had revenue of $0.68 million during the quarter. During the same quarter last year, the business posted ($0.79) EPS. Alder BioPharmaceuticals’s revenue was up 518.2% compared to the same quarter last year. On average, equities analysts anticipate that Alder BioPharmaceuticals will post ($5.79) earnings per share for the current year.

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In other news, Director Stephen M. Dow purchased 25,000 shares of the business’s stock in a transaction dated Tuesday, July 18th. The stock was acquired at an average price of $10.00 per share, with a total value of $250,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 10.60% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ALDR. Teachers Advisors LLC raised its stake in Alder BioPharmaceuticals by 1.5% in the 4th quarter. Teachers Advisors LLC now owns 76,809 shares of the biopharmaceutical company’s stock valued at $1,598,000 after purchasing an additional 1,171 shares during the last quarter. Bank of Montreal Can raised its stake in Alder BioPharmaceuticals by 3,047.2% in the 1st quarter. Bank of Montreal Can now owns 5,602 shares of the biopharmaceutical company’s stock valued at $117,000 after purchasing an additional 5,424 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Alder BioPharmaceuticals by 145.2% in the 1st quarter. Russell Investments Group Ltd. now owns 39,579 shares of the biopharmaceutical company’s stock valued at $823,000 after purchasing an additional 23,437 shares during the last quarter. American Century Companies Inc. raised its stake in Alder BioPharmaceuticals by 5.7% in the 1st quarter. American Century Companies Inc. now owns 70,486 shares of the biopharmaceutical company’s stock valued at $1,466,000 after purchasing an additional 3,815 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Alder BioPharmaceuticals by 4.6% in the 1st quarter. Bank of New York Mellon Corp now owns 210,401 shares of the biopharmaceutical company’s stock valued at $4,377,000 after purchasing an additional 9,218 shares during the last quarter. 76.16% of the stock is owned by hedge funds and other institutional investors.

Alder BioPharmaceuticals Company Profile

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.

Analyst Recommendations for Alder BioPharmaceuticals (NASDAQ:ALDR)

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