Jefferies Group reaffirmed their buy rating on shares of Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) in a research note released on Wednesday morning. The firm currently has a $62.00 price target on the biopharmaceutical company’s stock.
A number of other research firms have also recently commented on ALDR. Zacks Investment Research upgraded shares of Alder BioPharmaceuticals from a hold rating to a buy rating and set a $38.00 price target on the stock in a report on Tuesday, September 27th. JPMorgan Chase & Co. began coverage on shares of Alder BioPharmaceuticals in a report on Tuesday, September 13th. They set an overweight rating and a $40.00 target price on the stock. Finally, Brean Capital reiterated a positive rating and set a $45.00 target price on shares of Alder BioPharmaceuticals in a report on Wednesday, July 27th. Seven investment analysts have rated the stock with a buy rating, Alder BioPharmaceuticals currently has an average rating of Buy and an average target price of $45.00.
Alder BioPharmaceuticals (NASDAQ:ALDR) last posted its quarterly earnings results on Tuesday, July 26th. The biopharmaceutical company reported ($0.79) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.75) by $0.04. The firm had revenue of $0.11 million for the quarter, compared to analysts’ expectations of $1.14 million. The company’s revenue was up 112900.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.46) EPS.
In other news, VP Jeffrey T. L. Smith sold 3,000 shares of the firm’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $32.49, for a total value of $97,470.00. Following the sale, the vice president now directly owns 3,000 shares in the company, valued at approximately $97,470. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Randall C. Schatzman sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $28.08, for a total transaction of $280,800.00. Following the completion of the sale, the insider now owns 124,768 shares in the company, valued at $3,503,485.44. The disclosure for this sale can be found here. 11.50% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC bought a new position in shares of Alder BioPharmaceuticals during the first quarter valued at approximately $651,000. HBK Investments L P bought a new position in shares of Alder BioPharmaceuticals during the first quarter valued at approximately $282,000. Wellington Management Group LLP raised its position in shares of Alder BioPharmaceuticals by 133.2% in the first quarter. Wellington Management Group LLP now owns 3,156,865 shares of the biopharmaceutical company’s stock valued at $77,310,000 after buying an additional 1,803,110 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Alder BioPharmaceuticals by 2.1% in the first quarter. Geode Capital Management LLC now owns 179,237 shares of the biopharmaceutical company’s stock valued at $4,389,000 after buying an additional 3,621 shares during the last quarter. Finally, Pictet Asset Management Ltd. raised its position in shares of Alder BioPharmaceuticals by 32.1% in the first quarter. Pictet Asset Management Ltd. now owns 79,800 shares of the biopharmaceutical company’s stock valued at $1,515,000 after buying an additional 19,400 shares during the last quarter.
About Alder BioPharmaceuticals
Alder Biopharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company discovers, develops and focuses to commercialize therapeutic antibodies with the potential to transform current treatment paradigms. The Company has developed an antibody platform designed to select antibodies that have the potential to maximize efficacy, as well as speed of onset and durability of therapeutic response.
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