BidaskClub lowered shares of Alder BioPharmaceuticals (NASDAQ:ALDR) from a sell rating to a strong sell rating in a research note released on Tuesday morning.

A number of other research analysts have also recently weighed in on the stock. Mizuho restated a buy rating and issued a $32.00 price objective on shares of Alder BioPharmaceuticals in a report on Wednesday, November 8th. Canaccord Genuity initiated coverage on shares of Alder BioPharmaceuticals in a report on Thursday, October 26th. They set a buy rating and a $20.00 price target for the company. ValuEngine cut shares of Alder BioPharmaceuticals from a sell rating to a strong sell rating in a report on Wednesday, October 18th. Cowen initiated coverage on shares of Alder BioPharmaceuticals in a report on Tuesday, September 26th. They set an outperform rating and a $20.00 price target for the company. Finally, Royal Bank of Canada initiated coverage on shares of Alder BioPharmaceuticals in a report on Thursday, September 14th. They set an outperform rating and a $17.00 price target for the company. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $28.07.

Shares of Alder BioPharmaceuticals (ALDR) opened at $10.95 on Tuesday. Alder BioPharmaceuticals has a 12-month low of $8.60 and a 12-month high of $25.45.

Alder BioPharmaceuticals (NASDAQ:ALDR) last announced its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.29. During the same quarter last year, the firm posted ($0.70) earnings per share. sell-side analysts expect that Alder BioPharmaceuticals will post -5.14 earnings per share for the current year.

In other news, insider Mark James Litton sold 16,519 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were 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 in the company, valued at approximately $1,257,670.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 10.60% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of ALDR. Quantitative Systematic Strategies LLC purchased a new stake in shares of Alder BioPharmaceuticals during the 3rd quarter worth approximately $132,000. Legal & General Group Plc raised its position in Alder BioPharmaceuticals by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 15,496 shares of the biopharmaceutical company’s stock valued at $177,000 after purchasing an additional 400 shares during the last quarter. SG Americas Securities LLC raised its position in Alder BioPharmaceuticals by 109.4% in the 2nd quarter. SG Americas Securities LLC now owns 15,580 shares of the biopharmaceutical company’s stock valued at $178,000 after purchasing an additional 8,140 shares during the last quarter. Jane Street Group LLC purchased a new stake in Alder BioPharmaceuticals in the 3rd quarter valued at $184,000. Finally, Voya Investment Management LLC raised its position in Alder BioPharmaceuticals by 8.4% in the 2nd quarter. Voya Investment Management LLC now owns 22,304 shares of the biopharmaceutical company’s stock valued at $255,000 after purchasing an additional 1,734 shares during the last quarter. Institutional investors and hedge funds own 96.80% 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.

Analyst Recommendations for Alder BioPharmaceuticals (NASDAQ:ALDR)

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