Alder BioPharmaceuticals, Inc. (ALDR) Releases Quarterly Earnings Results
Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) released its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.92) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.21) by $0.29, Bloomberg Earnings reports. During the same quarter last year, the firm earned ($0.70) EPS.
Alder BioPharmaceuticals (NASDAQ ALDR) opened at $10.70 on Wednesday. Alder BioPharmaceuticals has a 1-year low of $8.60 and a 1-year high of $34.30.
In related news, insider Mark James Litton sold 16,520 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $12.33, for a total value of $203,691.60. Following the transaction, the insider now owns 116,452 shares in the company, valued at $1,435,853.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 10.60% of the company’s stock.
ALDR has been the topic of several analyst reports. Zacks Investment Research raised shares of Alder BioPharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Tuesday, July 11th. ValuEngine raised shares of Alder BioPharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 30th. Cowen and Company assumed coverage on shares of Alder BioPharmaceuticals in a research note on Tuesday, September 26th. They set an “outperform” rating and a $20.00 price target on the stock. Mizuho reissued a “buy” rating and issued a $32.00 target price on shares of Alder BioPharmaceuticals in a research report on Friday, September 15th. Finally, Royal Bank Of Canada assumed coverage on shares of Alder BioPharmaceuticals in a research report on Thursday, September 14th. They issued an “outperform” rating and a $17.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. Alder BioPharmaceuticals currently has a consensus rating of “Buy” and an average target price of $28.07.
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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.
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