Alder Biopharmaceuticals Trading Down 15.8% on Analyst Downgrade (ALDR)
Shares of Alder Biopharmaceuticals (NASDAQ:ALDR) traded down 15.8% on Tuesday after Leerink Swann lowered their price target on the stock from $26.00 to $24.00, AnalystRatings.NET reports. The stock traded as low as $14.31 and last traded at $14.34, with a volume of 203,859 shares changing hands. The stock had previously closed at $17.04.
Other equities research analysts have also recently issued reports about the stock. Analysts at Bernstein initiated coverage on shares of Alder Biopharmaceuticals in a research note on Wednesday, June 11th. They set an “outperform” rating and a $30.00 price target on the stock. Analysts at Sanford C. Bernstein initiated coverage on shares of Alder Biopharmaceuticals in a research note on Wednesday, June 11th. They set an “outperform” rating on the stock. Four investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus price target of $24.67.
The stock has a 50-day moving average of $15.88 and a 200-day moving average of $15.18. The company’s market cap is $438.6 million.
Alder Biopharmaceuticals (NASDAQ:ALDR) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.40) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.25) by $0.15. The company had revenue of $4.70 million for the quarter, compared to the consensus estimate of $5.00 million. During the same quarter in the prior year, the company posted ($5.27) earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. On average, analysts predict that Alder Biopharmaceuticals will post $-1.50 earnings per share for the current fiscal year.
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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