Alder BioPharmaceuticals Inc. (ALDR) Cut to “Hold” at Zacks Investment Research
Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “Alder Biopharmaceuticals Inc. is a clinical-stage biopharmaceutical company. It discovers, develops and seeks to commercialize therapeutic antibodies. It is developing monoclonal antibodies comprising ALD403, for the prevention of migraine; and Clazakizumab, in the treatment of rheumatoid arthritis and psoriatic arthritis. Alder Biopharmaceuticals Inc. is headquartered in Bothell, Washington. “
ALDR has been the subject of several other reports. Jefferies Group reissued a “buy” rating and issued a $61.00 target price on shares of Alder BioPharmaceuticals in a report on Tuesday, July 19th. Brean Capital restated a “positive” rating and issued a $45.00 price target on shares of Alder BioPharmaceuticals in a research report on Wednesday, July 27th. Finally, JPMorgan Chase & Co. began coverage on Alder BioPharmaceuticals in a research report on Tuesday, September 13th. They issued an “overweight” rating and a $40.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Alder BioPharmaceuticals has an average rating of “Buy” and an average target price of $45.00.
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Alder BioPharmaceuticals (NASDAQ:ALDR) traded down 0.95% during trading on Thursday, hitting $28.18. The stock had a trading volume of 652,223 shares. The firm’s market cap is $1.41 billion. The stock’s 50 day moving average price is $32.08 and its 200 day moving average price is $28.74. Alder BioPharmaceuticals has a 12-month low of $15.82 and a 12-month high of $39.43.
Alder BioPharmaceuticals (NASDAQ:ALDR) last posted its earnings results on Tuesday, July 26th. The biopharmaceutical company reported ($0.79) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.75) by $0.04. The firm earned $0.11 million during the quarter, compared to analyst estimates of $1.14 million. During the same period in the prior year, the firm earned ($0.46) earnings per share. The business’s revenue was up 112900.0% on a year-over-year basis. On average, analysts anticipate that Alder BioPharmaceuticals will post ($3.33) EPS for the current fiscal year.
In other news, insider Randall C. Schatzman sold 10,000 shares of Alder BioPharmaceuticals stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $28.08, for a total transaction of $280,800.00. Following the sale, the insider now owns 124,768 shares of the company’s stock, valued at $3,503,485.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Jeffrey T. L. Smith sold 3,000 shares of Alder BioPharmaceuticals stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $31.14, for a total value of $93,420.00. Following the sale, the vice president now directly owns 3,000 shares in the company, valued at approximately $93,420. The disclosure for this sale can be found here. 11.50% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. boosted its stake in Alder BioPharmaceuticals by 12.5% in the first quarter. Prudential Financial Inc. now owns 104,100 shares of the biopharmaceutical company’s stock worth $2,549,000 after buying an additional 11,600 shares during the period. BlackRock Fund Advisors raised its position in Alder BioPharmaceuticals by 4.2% in the first quarter. BlackRock Fund Advisors now owns 1,136,823 shares of the biopharmaceutical company’s stock worth $27,841,000 after buying an additional 45,908 shares in the last quarter. JPMorgan Chase & Co. raised its position in Alder BioPharmaceuticals by 11.4% in the first quarter. JPMorgan Chase & Co. now owns 349,482 shares of the biopharmaceutical company’s stock worth $8,559,000 after buying an additional 35,883 shares in the last quarter. State Street Corp raised its position in Alder BioPharmaceuticals by 20.2% in the first quarter. State Street Corp now owns 1,195,800 shares of the biopharmaceutical company’s stock worth $29,282,000 after buying an additional 200,566 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its position in Alder BioPharmaceuticals by 32.1% in the first quarter. Pictet Asset Management Ltd. now owns 79,800 shares of the biopharmaceutical company’s stock worth $1,515,000 after buying an additional 19,400 shares in the last quarter.
About Alder BioPharmaceuticals
Alder Biopharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company discovers, develops and focuses to commercialize therapeutic antibodies with the potential to transform current treatment paradigms. The Company has developed an antibody platform designed to select antibodies that have the potential to maximize efficacy, as well as speed of onset and durability of therapeutic response.
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