Credit Suisse Group Reaffirms Neutral Rating for Alder Biopharmaceuticals (NASDAQ:ALDR)

Credit Suisse Group restated their neutral rating on shares of Alder Biopharmaceuticals (NASDAQ:ALDR) in a research report released on Tuesday morning, BenzingaRatingsTable reports. The firm currently has a $19.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $11.00.

ALDR has been the topic of several other research reports. UBS Group upgraded shares of Alder Biopharmaceuticals from a sell rating to a neutral rating and upped their target price for the stock from $9.00 to $19.50 in a research note on Tuesday. BMO Capital Markets downgraded shares of Alder Biopharmaceuticals from an outperform rating to a market perform rating in a research note on Monday, September 16th. BidaskClub downgraded shares of Alder Biopharmaceuticals from a sell rating to a strong sell rating in a research note on Saturday, August 3rd. Needham & Company LLC downgraded shares of Alder Biopharmaceuticals from a buy rating to a hold rating in a research note on Monday, September 16th. Finally, Svb Leerink started coverage on shares of Alder Biopharmaceuticals in a research note on Tuesday, May 28th. They issued an outperform rating on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Alder Biopharmaceuticals presently has an average rating of Hold and an average price target of $17.61.

Shares of ALDR opened at $18.64 on Tuesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 8.94 and a current ratio of 8.94. Alder Biopharmaceuticals has a fifty-two week low of $8.39 and a fifty-two week high of $18.90. The firm’s 50-day simple moving average is $10.20 and its two-hundred day simple moving average is $11.59.

Alder Biopharmaceuticals (NASDAQ:ALDR) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.99) by $0.27. As a group, equities analysts expect that Alder Biopharmaceuticals will post -4.13 earnings per share for the current fiscal year.

In related news, Director Jeffrey T. L. Smith sold 32,728 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $18.44, for a total transaction of $603,504.32. Following the transaction, the director now owns 27,999 shares in the company, valued at $516,301.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 15.40% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. United Services Automobile Association lifted its position in Alder Biopharmaceuticals by 0.9% during the second quarter. United Services Automobile Association now owns 238,335 shares of the biopharmaceutical company’s stock valued at $2,805,000 after purchasing an additional 2,115 shares during the period. Point72 Hong Kong Ltd lifted its position in Alder Biopharmaceuticals by 236.9% during the second quarter. Point72 Hong Kong Ltd now owns 3,217 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 2,262 shares during the period. DekaBank Deutsche Girozentrale lifted its position in Alder Biopharmaceuticals by 22.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 24,200 shares of the biopharmaceutical company’s stock valued at $432,000 after purchasing an additional 4,400 shares during the period. Bank of Montreal Can lifted its position in Alder Biopharmaceuticals by 39.7% during the second quarter. Bank of Montreal Can now owns 21,428 shares of the biopharmaceutical company’s stock valued at $252,000 after purchasing an additional 6,089 shares during the period. Finally, GSA Capital Partners LLP lifted its position in Alder Biopharmaceuticals by 63.9% during the second quarter. GSA Capital Partners LLP now owns 18,681 shares of the biopharmaceutical company’s stock valued at $220,000 after purchasing an additional 7,283 shares during the period.

About Alder Biopharmaceuticals

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 in the United States, Australia, and Ireland. The company's lead product candidate is eptinezumab, a monoclonal antibody (mAb) inhibiting calcitonin gene-related peptide, which is in the late-stage clinical development for the prevention of migraine.

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