Alder BioPharmaceuticals, Inc. (ALDR) Receives Average Rating of “Buy” from Analysts
Shares of Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) have earned a consensus rating of “Buy” from the sixteen brokerages that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $29.23.
A number of analysts have recently weighed in on the company. BidaskClub raised Alder BioPharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Credit Suisse Group set a $11.00 price objective on Alder BioPharmaceuticals and gave the stock a “hold” rating in a research report on Thursday, August 24th. Royal Bank of Canada assumed coverage on Alder BioPharmaceuticals in a research report on Thursday, September 14th. They issued an “outperform” rating and a $17.00 price objective for the company. Canaccord Genuity assumed coverage on Alder BioPharmaceuticals in a research report on Thursday, October 26th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Mizuho reissued a “buy” rating and issued a $32.00 price objective on shares of Alder BioPharmaceuticals in a research report on Wednesday, November 8th.
Alder BioPharmaceuticals (NASDAQ ALDR) traded up $0.05 during trading on Monday, hitting $10.75. The stock had a trading volume of 2,557,296 shares, compared to its average volume of 646,479. Alder BioPharmaceuticals has a 52-week low of $8.60 and a 52-week high of $25.45.
In other Alder BioPharmaceuticals news, insider Mark James Litton sold 16,519 shares of Alder BioPharmaceuticals stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $10.80, for a total transaction of $178,405.20. Following the completion of the sale, the insider now owns 116,451 shares of the company’s stock, valued at approximately $1,257,670.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 10.60% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Teachers Advisors LLC lifted its holdings in shares of Alder BioPharmaceuticals by 6.3% in the 1st quarter. Teachers Advisors LLC now owns 81,614 shares of the biopharmaceutical company’s stock valued at $1,698,000 after buying an additional 4,805 shares during the period. Dimensional Fund Advisors LP acquired a new position in shares of Alder BioPharmaceuticals in the 1st quarter valued at about $564,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Alder BioPharmaceuticals by 22.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 209,273 shares of the biopharmaceutical company’s stock valued at $4,353,000 after buying an additional 38,123 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Alder BioPharmaceuticals by 7.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 42,416 shares of the biopharmaceutical company’s stock valued at $486,000 after buying an additional 2,837 shares during the period. Finally, Candriam Luxembourg S.C.A. lifted its holdings in shares of Alder BioPharmaceuticals by 7.3% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 117,000 shares of the biopharmaceutical company’s stock valued at $1,340,000 after buying an additional 8,000 shares during the period. 96.88% of the stock is owned by institutional investors.
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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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