Mizuho reaffirmed their buy rating on shares of Alder BioPharmaceuticals (NASDAQ:ALDR) in a research note issued to investors on Tuesday, Marketbeat.com reports. Mizuho currently has a $29.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $32.00.
A number of other equities analysts have also commented on the company. ValuEngine raised Alder BioPharmaceuticals from a strong sell rating to a sell rating in a research note on Thursday, January 4th. BidaskClub raised Alder BioPharmaceuticals from a sell rating to a hold rating in a research note on Thursday, January 4th. BMO Capital Markets reissued a buy rating and set a $22.00 price target on shares of Alder BioPharmaceuticals in a research note on Wednesday, January 3rd. Canaccord Genuity assumed coverage on Alder BioPharmaceuticals in a research note on Thursday, October 26th. They set a buy rating and a $20.00 price target for the company. Finally, Cowen assumed coverage on Alder BioPharmaceuticals in a research note on Tuesday, September 26th. They set an outperform rating and a $20.00 price target for the company. Three analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $27.93.
Shares of Alder BioPharmaceuticals (NASDAQ ALDR) opened at $17.85 on Tuesday. Alder BioPharmaceuticals has a 1 year low of $8.60 and a 1 year high of $25.45.
Alder BioPharmaceuticals (NASDAQ:ALDR) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.21) by $0.29. During the same period in the previous year, the firm posted ($0.70) EPS. equities analysts predict that Alder BioPharmaceuticals will post -5.14 EPS for the current year.
In other news, insider Mark James Litton sold 16,520 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $12.33, for a total value of $203,691.60. Following the completion of the sale, the insider now directly owns 116,452 shares of the company’s stock, valued at approximately $1,435,853.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.60% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Alder BioPharmaceuticals by 5.5% in the 2nd quarter. Vanguard Group Inc. now owns 3,626,573 shares of the biopharmaceutical company’s stock valued at $41,525,000 after purchasing an additional 187,871 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of Alder BioPharmaceuticals in the 2nd quarter valued at approximately $36,956,000. Redmile Group LLC lifted its stake in shares of Alder BioPharmaceuticals by 16.4% in the 2nd quarter. Redmile Group LLC now owns 2,223,811 shares of the biopharmaceutical company’s stock valued at $25,463,000 after purchasing an additional 313,925 shares during the last quarter. State Street Corp lifted its stake in shares of Alder BioPharmaceuticals by 9.4% in the 2nd quarter. State Street Corp now owns 1,944,755 shares of the biopharmaceutical company’s stock valued at $22,267,000 after purchasing an additional 167,642 shares during the last quarter. Finally, BB Biotech AG lifted its stake in shares of Alder BioPharmaceuticals by 15.2% in the 2nd quarter. BB Biotech AG now owns 1,941,008 shares of the biopharmaceutical company’s stock valued at $22,225,000 after purchasing an additional 255,858 shares during the last quarter. 96.80% of the stock is owned by institutional investors and hedge funds.
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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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