BMO Capital Markets reissued their outperform rating on shares of Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) in a research report report published on Wednesday. The brokerage currently has a $27.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $39.00.
ALDR has been the subject of several other reports. Leerink Swann restated an outperform rating and set a $32.00 price objective on shares of Alder BioPharmaceuticals in a research note on Monday, June 12th. Needham & Company LLC set a $36.00 price objective on shares of Alder BioPharmaceuticals and gave the company a buy rating in a research note on Monday, July 17th. Zacks Investment Research cut shares of Alder BioPharmaceuticals from a buy rating to a hold rating in a research note on Tuesday. UBS AG assumed coverage on shares of Alder BioPharmaceuticals in a research note on Friday, May 5th. They set a sell rating and a $13.00 price objective for the company. Finally, ValuEngine cut shares of Alder BioPharmaceuticals from a sell rating to a strong sell rating in a research note on Thursday, June 29th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $32.92.
Shares of Alder BioPharmaceuticals (ALDR) traded up 5.08% during mid-day trading on Wednesday, reaching $9.30. 1,416,650 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $11.56 and its 200-day moving average price is $18.22. The company’s market capitalization is $629.73 million. Alder BioPharmaceuticals has a one year low of $8.80 and a one year high of $36.48.
Alder BioPharmaceuticals (NASDAQ:ALDR) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.48) EPS for the quarter, beating the consensus estimate of ($1.67) by $0.19. The business had revenue of $0.68 million for the quarter. During the same period last year, the firm posted ($0.79) EPS. The company’s revenue for the quarter was up 518.2% on a year-over-year basis. On average, equities analysts expect that Alder BioPharmaceuticals will post ($5.82) earnings per share for the current year.
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In other news, Director Stephen M. Dow bought 25,000 shares of the business’s stock in a transaction dated Tuesday, July 18th. The stock was purchased at an average cost of $10.00 per share, with a total value of $250,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 10.60% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can raised its position in Alder BioPharmaceuticals by 3,047.2% in the first quarter. Bank of Montreal Can now owns 5,602 shares of the biopharmaceutical company’s stock valued at $117,000 after buying an additional 5,424 shares during the period. Stifel Financial Corp purchased a new position in Alder BioPharmaceuticals during the first quarter valued at $206,000. Trexquant Investment LP purchased a new position in Alder BioPharmaceuticals during the first quarter valued at $265,000. Legal & General Group Plc raised its position in Alder BioPharmaceuticals by 2.6% in the second quarter. Legal & General Group Plc now owns 15,496 shares of the biopharmaceutical company’s stock valued at $177,000 after buying an additional 400 shares during the period. Finally, SG Americas Securities LLC raised its position in Alder BioPharmaceuticals by 109.4% in the second quarter. SG Americas Securities LLC now owns 15,580 shares of the biopharmaceutical company’s stock valued at $178,000 after buying an additional 8,140 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.
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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