Other analysts also recently issued research reports about the company. Svb Leerink began coverage on Alder Biopharmaceuticals in a research report on Tuesday, May 28th. They issued an outperform rating for the company. Zacks Investment Research upgraded Alder Biopharmaceuticals from a hold rating to a strong-buy rating and set a $11.00 price objective for the company in a research report on Friday, August 9th. Mizuho raised their price objective on Alder Biopharmaceuticals from $15.00 to $18.00 and gave the stock a neutral rating in a research report on Tuesday. BMO Capital Markets downgraded Alder Biopharmaceuticals from an outperform rating to a market perform rating in a research report on Monday, September 16th. Finally, Canaccord Genuity downgraded Alder Biopharmaceuticals from a buy rating to a hold rating and set a $20.00 price objective for the company. in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Alder Biopharmaceuticals presently has a consensus rating of Hold and a consensus price target of $17.61.
Shares of ALDR stock opened at $18.64 on Wednesday. The stock has a 50 day moving average of $10.20 and a two-hundred day moving average of $11.59. The company has a current ratio of 8.94, a quick ratio of 8.94 and a debt-to-equity ratio of 1.74. Alder Biopharmaceuticals has a 12 month low of $8.39 and a 12 month high of $18.90.
Alder Biopharmaceuticals (NASDAQ:ALDR) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.72) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.99) by $0.27. On average, equities analysts anticipate that Alder Biopharmaceuticals will post -4.13 earnings per share for the current fiscal year.
In other news, Director Jeffrey T. L. Smith sold 32,728 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $18.44, for a total value of $603,504.32. Following the completion of the transaction, the director now directly owns 27,999 shares of the company’s stock, valued at approximately $516,301.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. 15.40% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of ALDR. Point72 Hong Kong Ltd raised its holdings in shares of Alder Biopharmaceuticals by 236.9% in the 2nd quarter. Point72 Hong Kong Ltd now owns 3,217 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 2,262 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new position in shares of Alder Biopharmaceuticals in the 2nd quarter worth approximately $126,000. Fulcrum Capital LLC acquired a new position in shares of Alder Biopharmaceuticals in the 2nd quarter worth approximately $127,000. Quantamental Technologies LLC acquired a new position in shares of Alder Biopharmaceuticals in the 2nd quarter worth approximately $156,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of Alder Biopharmaceuticals in the 2nd quarter worth approximately $167,000.
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.
Further Reading: What is a good rate of return for a mutual fund?
Receive News & Ratings for Alder Biopharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alder Biopharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.