Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) shot up 0.2% on Monday . The stock traded as high as $12.40 and last traded at $12.23. 1,042,852 shares changed hands during trading, a decline of 48% from the average session volume of 1,987,600 shares. The stock had previously closed at $12.25.

ALDR has been the topic of a number of recent analyst reports. ValuEngine raised shares of Alder BioPharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 20th. Leerink Swann restated an “outperform” rating and set a $32.00 price target on shares of Alder BioPharmaceuticals in a report on Monday, June 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 price target on shares of Alder BioPharmaceuticals in a research report on Friday, June 9th. Credit Suisse Group cut Alder BioPharmaceuticals from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $30.00 to $17.00 in a report on Wednesday, June 28th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $47.00 price objective on shares of Alder BioPharmaceuticals in a research report on Wednesday, June 28th. Three analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. Alder BioPharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $28.69.

The firm’s market cap is $832.87 million. The stock’s 50-day moving average price is $9.64 and its 200 day moving average price is $15.75.

Alder BioPharmaceuticals (NASDAQ:ALDR) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.67) by $0.19. The firm had revenue of $0.68 million during the quarter. During the same period last year, the firm posted ($0.79) EPS. The firm’s revenue was up 518.2% on a year-over-year basis. On average, analysts predict that Alder BioPharmaceuticals, Inc. will post ($5.60) EPS for the current year.

In other Alder BioPharmaceuticals news, Director Stephen M. Dow acquired 25,000 shares of the business’s stock in a transaction dated Tuesday, July 18th. The shares were purchased at an average price of $10.00 per share, for a total transaction of $250,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in ALDR. Asymmetry Capital Management L.P. increased its holdings in shares of Alder BioPharmaceuticals by 320.1% during the 2nd quarter. Asymmetry Capital Management L.P. now owns 166,752 shares of the biopharmaceutical company’s stock valued at $1,909,000 after purchasing an additional 127,056 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Alder BioPharmaceuticals by 1.9% during the second quarter. The Manufacturers Life Insurance Company now owns 37,488 shares of the biopharmaceutical company’s stock worth $430,000 after purchasing an additional 698 shares in the last quarter. Redmile Group LLC boosted its position in Alder BioPharmaceuticals by 16.4% during the second quarter. Redmile Group LLC now owns 2,223,811 shares of the biopharmaceutical company’s stock worth $25,463,000 after purchasing an additional 313,925 shares in the last quarter. State Street Corp boosted its position in Alder BioPharmaceuticals by 9.4% during the second quarter. State Street Corp now owns 1,944,755 shares of the biopharmaceutical company’s stock worth $22,267,000 after purchasing an additional 167,642 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its position in Alder BioPharmaceuticals by 13.4% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 30,520 shares of the biopharmaceutical company’s stock worth $349,000 after purchasing an additional 3,616 shares in the last quarter. Institutional investors and hedge funds own 76.16% of the company’s stock.

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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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