Alder Biopharmaceuticals Inc (NASDAQ:ALDR)’s share price traded up 7.9% during mid-day trading on Wednesday . The stock traded as high as $14.50 and last traded at $14.35. 2,481,026 shares traded hands during trading, an increase of 19% from the average session volume of 2,089,327 shares. The stock had previously closed at $13.30.

Several equities analysts recently issued reports on the company. Canaccord Genuity set a $22.00 price objective on Alder Biopharmaceuticals and gave the stock a “buy” rating in a report on Friday, January 12th. Zacks Investment Research cut Alder Biopharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. BMO Capital Markets lifted their price objective on Alder Biopharmaceuticals to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. Mizuho reaffirmed a “buy” rating and set a $29.00 price objective (down from $32.00) on shares of Alder Biopharmaceuticals in a report on Tuesday, January 9th. Finally, ValuEngine cut Alder Biopharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $27.93.

The stock has a market capitalization of $971.69, a price-to-earnings ratio of -2.67 and a beta of 2.60.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALDR. Wells Fargo & Company MN raised its holdings in shares of Alder Biopharmaceuticals by 33.0% in the second quarter. Wells Fargo & Company MN now owns 135,071 shares of the biopharmaceutical company’s stock worth $1,547,000 after acquiring an additional 33,526 shares during the last quarter. Teachers Advisors LLC raised its holdings in shares of Alder Biopharmaceuticals by 3.8% in the second quarter. Teachers Advisors LLC now owns 84,705 shares of the biopharmaceutical company’s stock worth $970,000 after acquiring an additional 3,091 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings in shares of Alder Biopharmaceuticals by 15.6% in the second quarter. TIAA CREF Investment Management LLC now owns 165,344 shares of the biopharmaceutical company’s stock worth $1,893,000 after acquiring an additional 22,277 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Alder Biopharmaceuticals by 287.2% in the second quarter. Ameriprise Financial Inc. now owns 619,938 shares of the biopharmaceutical company’s stock worth $7,098,000 after acquiring an additional 459,821 shares during the last quarter. Finally, Nationwide Fund Advisors raised its holdings in shares of Alder Biopharmaceuticals by 25.6% in the second quarter. Nationwide Fund Advisors now owns 58,137 shares of the biopharmaceutical company’s stock worth $666,000 after acquiring an additional 11,853 shares during the last quarter. 97.22% of the stock is owned by institutional investors.

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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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