Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR)’s share price gapped up before the market opened on Monday . The stock had previously closed at $10.20, but opened at $10.20. Alder BioPharmaceuticals shares last traded at $10.48, with a volume of 511,565 shares changing hands.
Several research firms recently weighed in on ALDR. Mizuho reiterated a “buy” rating and set a $32.00 target price on shares of Alder BioPharmaceuticals in a research report on Friday. Royal Bank Of Canada began coverage on Alder BioPharmaceuticals in a research report on Thursday. They set an “outperform” rating and a $17.00 target price on the stock. BidaskClub upgraded Alder BioPharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Credit Suisse Group set a $11.00 target price on Alder BioPharmaceuticals and gave the company a “hold” rating in a research report on Thursday, August 24th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $26.00 target price (down from $36.00) on shares of Alder BioPharmaceuticals in a research report on Thursday, August 10th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. Alder BioPharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $30.62.
The firm’s market cap is $710.99 million. The company’s 50 day moving average price is $9.66 and its 200-day moving average price is $16.05.
Alder BioPharmaceuticals (NASDAQ:ALDR) last posted its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.67) by $0.19. The firm had revenue of $0.68 million for the quarter. During the same quarter in the prior year, the firm posted ($0.79) earnings per share. The firm’s quarterly revenue was up 518.2% on a year-over-year basis. Equities analysts predict that Alder BioPharmaceuticals, Inc. will post ($5.71) EPS for the current year.
In related news, Director Stephen M. Dow purchased 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The shares were purchased at an average cost of $10.00 per share, with a total value of $250,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 10.60% of the company’s stock.
A number of institutional investors have recently modified their holdings of ALDR. Teachers Advisors LLC lifted its stake in Alder BioPharmaceuticals by 1.5% in the 4th quarter. Teachers Advisors LLC now owns 76,809 shares of the biopharmaceutical company’s stock valued at $1,598,000 after buying an additional 1,171 shares in the last quarter. Bank of Montreal Can lifted its stake in Alder BioPharmaceuticals by 3,047.2% in the 1st quarter. Bank of Montreal Can now owns 5,602 shares of the biopharmaceutical company’s stock valued at $117,000 after buying an additional 5,424 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Alder BioPharmaceuticals by 145.2% in the 1st quarter. Russell Investments Group Ltd. now owns 39,579 shares of the biopharmaceutical company’s stock valued at $823,000 after buying an additional 23,437 shares in the last quarter. American Century Companies Inc. lifted its stake in Alder BioPharmaceuticals by 5.7% in the 1st quarter. American Century Companies Inc. now owns 70,486 shares of the biopharmaceutical company’s stock valued at $1,466,000 after buying an additional 3,815 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Alder BioPharmaceuticals by 4.6% in the 1st quarter. Bank of New York Mellon Corp now owns 210,401 shares of the biopharmaceutical company’s stock valued at $4,377,000 after buying an additional 9,218 shares in the last quarter. 76.16% of the stock is currently owned by hedge funds and other institutional investors.
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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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