Alder Biopharmaceuticals’ Quiet Period Set To End on June 17th (NASDAQ:ALDR)
Alder Biopharmaceuticals’ (NASDAQ:ALDR) quiet period will end on Tuesday, June 17th. Alder Biopharmaceuticals had issued 8,000,000 shares in its IPO on May 8th, American Banking and Market News reports. The total size of the offering was $80,000,000 based on an initial share price of $10.00. During Alder Biopharmaceuticals’ quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
A number of research firms have recently commented on ALDR. Analysts at Bernstein initiated coverage on shares of Alder Biopharmaceuticals in a research note on Wednesday. They set an “outperform” rating and a $30.00 price target on the stock. Separately, analysts at Sanford C. Bernstein initiated coverage on shares of Alder Biopharmaceuticals in a research note on Wednesday. They set an “outperform” rating on the stock. Finally, analysts at Credit Suisse initiated coverage on shares of Alder Biopharmaceuticals in a research note on Monday, June 2nd. They set an “outperform” rating and a $20.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $25.33.
Shares of Alder Biopharmaceuticals (NASDAQ:ALDR) traded up 0.98% during mid-day trading on Thursday, hitting $17.60. The stock had a trading volume of 16,532 shares. Alder Biopharmaceuticals has a one year low of $9.50 and a one year high of $17.74. The stock’s 50-day moving average is $11.68 and its 200-day moving average is $11.68. The company’s market cap is $526.3 million.
Alder Biopharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company discovers, develops and seeks to commercialize therapeutic antibodies with the potential to meaningfully transform current treatment paradigms.
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