Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) traded down 2.9% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $30.28 and last traded at $30.55, with a volume of 106,225 shares. The stock had previously closed at $31.47.
Specifically, insider Randall C. Schatzman sold 10,000 shares of Alder BioPharmaceuticals stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $28.08, for a total value of $280,800.00. Following the transaction, the insider now owns 124,768 shares in the company, valued at $3,503,485.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Jeffrey T. L. Smith sold 3,000 shares of Alder BioPharmaceuticals stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $31.17, for a total value of $93,510.00. Following the completion of the transaction, the vice president now owns 3,000 shares in the company, valued at approximately $93,510. The disclosure for this sale can be found here. Company insiders own 11.50% of the company’s stock.
Several research firms have recently commented on ALDR. Brean Capital began coverage on Alder BioPharmaceuticals in a report on Friday, September 30th. They issued a “buy” rating and a $45.00 price objective on the stock. Jefferies Group reiterated a “buy” rating and issued a $62.00 price objective on shares of Alder BioPharmaceuticals in a report on Wednesday, September 28th. Zacks Investment Research upgraded Alder BioPharmaceuticals from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Tuesday, September 27th. Finally, JPMorgan Chase & Co. began coverage on Alder BioPharmaceuticals in a report on Tuesday, September 13th. They issued an “overweight” rating and a $40.00 price objective on the stock. Seven equities research analysts have rated the stock with a buy rating, Alder BioPharmaceuticals currently has an average rating of “Buy” and a consensus price target of $45.00.
The stock’s 50-day moving average price is $32.28 and its 200 day moving average price is $28.38. The firm’s market cap is $1.52 billion.
Alder BioPharmaceuticals (NASDAQ:ALDR) last posted its quarterly earnings data on Tuesday, July 26th. The biopharmaceutical company reported ($0.79) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.75) by $0.04. The firm had revenue of $0.11 million for the quarter, compared to analyst estimates of $1.14 million. During the same period in the prior year, the firm earned ($0.46) EPS. The company’s revenue for the quarter was up 112900.0% on a year-over-year basis. Analysts forecast that Alder BioPharmaceuticals Inc. will post ($3.33) earnings per share for the current year.
Several large investors have recently bought and sold shares of the company. Smith Asset Management Group LP bought a new stake in Alder BioPharmaceuticals during the second quarter valued at approximately $269,000. Cormorant Asset Management LLC increased its stake in Alder BioPharmaceuticals by 97.7% in the first quarter. Cormorant Asset Management LLC now owns 1,497,475 shares of the biopharmaceutical company’s stock valued at $36,673,000 after buying an additional 740,000 shares during the last quarter. Bellevue Group AG bought a new stake in Alder BioPharmaceuticals during the first quarter valued at approximately $808,000. Legal & General Group Plc increased its stake in Alder BioPharmaceuticals by 57.6% in the first quarter. Legal & General Group Plc now owns 8,349 shares of the biopharmaceutical company’s stock valued at $203,000 after buying an additional 3,053 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Alder BioPharmaceuticals during the first quarter valued at approximately $651,000.
Alder BioPharmaceuticals Company Profile
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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