Zacks Investment Research downgraded shares of Alder Biopharmaceuticals (NASDAQ:ALDR) from a buy rating to a hold rating in a research note released on Monday.
According to Zacks, “Alder Biopharmaceuticals Inc. is a clinical-stage biopharmaceutical company. It discovers, develops and seeks to commercialize therapeutic antibodies. It is developing monoclonal antibodies comprising ALD403, for the prevention of migraine; and Clazakizumab, in the treatment of rheumatoid arthritis and psoriatic arthritis. Alder Biopharmaceuticals Inc. is headquartered in Bothell, Washington. “
ALDR has been the subject of a number of other reports. BidaskClub upgraded Alder Biopharmaceuticals from a strong sell rating to a sell rating in a research note on Saturday, January 5th. Cowen set a $23.00 price target on Alder Biopharmaceuticals and gave the company a buy rating in a research note on Monday, November 5th. Credit Suisse Group set a $17.00 price target on Alder Biopharmaceuticals and gave the company a hold rating in a research note on Thursday, December 13th. ValuEngine raised Alder Biopharmaceuticals from a hold rating to a buy rating in a report on Wednesday, January 30th. Finally, Wells Fargo & Co began coverage on Alder Biopharmaceuticals in a report on Tuesday, November 6th. They issued an outperform rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $21.50.
Alder Biopharmaceuticals stock opened at $13.92 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 15.34 and a quick ratio of 15.34. Alder Biopharmaceuticals has a one year low of $9.44 and a one year high of $20.87. The stock has a market capitalization of $956.58 million, a price-to-earnings ratio of -2.81 and a beta of 2.87.
In other news, insider Jeffrey T. L. Smith sold 5,044 shares of the stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $13.84, for a total value of $69,808.96. Following the transaction, the insider now directly owns 5,875 shares of the company’s stock, valued at $81,310. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.40% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in ALDR. Dimensional Fund Advisors LP grew its holdings in Alder Biopharmaceuticals by 2.4% during the second quarter. Dimensional Fund Advisors LP now owns 842,418 shares of the biopharmaceutical company’s stock worth $13,310,000 after acquiring an additional 19,634 shares during the period. Millennium Management LLC grew its holdings in Alder Biopharmaceuticals by 69.4% during the second quarter. Millennium Management LLC now owns 295,730 shares of the biopharmaceutical company’s stock worth $4,673,000 after acquiring an additional 121,175 shares during the period. Cornerstone Wealth Management LLC acquired a new stake in Alder Biopharmaceuticals during the third quarter worth about $400,000. First Trust Advisors LP grew its holdings in Alder Biopharmaceuticals by 200.7% during the third quarter. First Trust Advisors LP now owns 277,214 shares of the biopharmaceutical company’s stock worth $4,616,000 after acquiring an additional 185,033 shares during the period. Finally, Brighton Jones LLC acquired a new stake in Alder Biopharmaceuticals during the third quarter worth about $197,000.
Alder Biopharmaceuticals Company Profile
Alder BioPharmaceuticals, Inc operates as a clinical-stage biopharmaceutical company. It discovers, develops, and commercializes therapeutic antibodies to transform the treatment paradigm for patients with migraine and other serious neurological or inflammatory conditions in the United States, Australia, and Ireland.
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