Jefferies Group restated their buy rating on shares of Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) in a report published on Sunday. Jefferies Group currently has a $57.00 target price on the biopharmaceutical company’s stock.
Other equities analysts have also issued research reports about the company. Piper Jaffray Cos. reissued a buy rating and issued a $47.00 price objective on shares of Alder BioPharmaceuticals in a research note on Thursday. Zacks Investment Research raised Alder BioPharmaceuticals from a hold rating to a buy rating and set a $37.00 price objective on the stock in a research note on Tuesday, November 15th. Aegis started coverage on Alder BioPharmaceuticals in a research note on Monday, November 7th. They issued a buy rating and a $41.00 price objective on the stock. Brean Capital started coverage on Alder BioPharmaceuticals in a research note on Friday, September 30th. They issued a buy rating and a $45.00 price objective on the stock. Finally, BMO Capital Markets started coverage on Alder BioPharmaceuticals in a research note on Thursday, November 10th. They issued an outperform rating and a $42.00 price objective on the stock. Ten research analysts have rated the stock with a buy rating, The stock presently has an average rating of Buy and an average target price of $43.63.
Shares of Alder BioPharmaceuticals (NASDAQ:ALDR) traded down 1.88% during trading on Friday, reaching $28.75. The company had a trading volume of 1,024,464 shares. The firm’s market capitalization is $1.45 billion. Alder BioPharmaceuticals has a 52-week low of $15.82 and a 52-week high of $39.43. The company has a 50 day moving average of $28.69 and a 200-day moving average of $29.02.
Alder BioPharmaceuticals (NASDAQ:ALDR) last announced its quarterly earnings results on Thursday, October 27th. The biopharmaceutical company reported ($0.70) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.85) by $0.15. During the same period last year, the business posted ($0.62) earnings per share. Equities analysts expect that Alder BioPharmaceuticals will post ($3.13) earnings per share for the current year.
In related news, insider Randall C. Schatzman sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $32.48, for a total value of $324,800.00. Following the completion of the sale, the insider now owns 124,768 shares in the company, valued at $4,052,464.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jeffrey T. L. Smith sold 3,000 shares of the company’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 completion of the sale, the vice president now owns 3,000 shares of the company’s stock, valued at approximately $97,470. The disclosure for this sale can be found here. 11.50% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors increased its stake in Alder BioPharmaceuticals by 4.2% in the first quarter. BlackRock Fund Advisors now owns 1,136,823 shares of the biopharmaceutical company’s stock worth $27,841,000 after buying an additional 45,908 shares in the last quarter. State Street Corp increased its stake in Alder BioPharmaceuticals by 20.2% in the first quarter. State Street Corp now owns 1,195,800 shares of the biopharmaceutical company’s stock worth $29,282,000 after buying an additional 200,566 shares in the last quarter. HBK Investments L P bought a new stake in Alder BioPharmaceuticals during the first quarter worth approximately $282,000. Smith Asset Management Group LP bought a new stake in Alder BioPharmaceuticals during the second quarter worth approximately $269,000. Finally, American Century Companies Inc. increased its stake in Alder BioPharmaceuticals by 5.9% in the second quarter. American Century Companies Inc. now owns 77,244 shares of the biopharmaceutical company’s stock worth $1,929,000 after buying an additional 4,274 shares in 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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