Shares of Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) have been given a consensus rating of “Buy” by the thirteen brokerages that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $35.00.

ALDR has been the subject of a number of analyst reports. Aegis reaffirmed a “buy” rating and set a $41.00 target price on shares of Alder BioPharmaceuticals in a report on Tuesday, April 25th. Jefferies Group LLC reaffirmed a “buy” rating and set a $43.00 target price on shares of Alder BioPharmaceuticals in a report on Monday, April 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 target price on shares of Alder BioPharmaceuticals in a report on Friday, June 9th. Zacks Investment Research raised shares of Alder BioPharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Tuesday, July 11th. Finally, Credit Suisse Group lowered shares of Alder BioPharmaceuticals from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $30.00 to $17.00 in a report on Wednesday, June 28th.

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In other news, Director Stephen M. Dow purchased 25,000 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was bought at an average price of $10.00 per share, with a total value of $250,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 10.60% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the company. Sei Investments Co. raised its position in shares of Alder BioPharmaceuticals by 2,297.8% in the first quarter. Sei Investments Co. now owns 25,584 shares of the biopharmaceutical company’s stock worth $532,000 after buying an additional 24,517 shares during the last quarter. Swiss National Bank raised its position in shares of Alder BioPharmaceuticals by 2.6% in the first quarter. Swiss National Bank now owns 66,342 shares of the biopharmaceutical company’s stock worth $1,380,000 after buying an additional 1,700 shares during the last quarter. Pictet Asset Management Ltd. raised its position in shares of Alder BioPharmaceuticals by 69.7% in the first quarter. Pictet Asset Management Ltd. now owns 611,706 shares of the biopharmaceutical company’s stock worth $12,724,000 after buying an additional 251,249 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Alder BioPharmaceuticals by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 210,401 shares of the biopharmaceutical company’s stock worth $4,377,000 after buying an additional 9,218 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Alder BioPharmaceuticals by 5.7% in the first quarter. American Century Companies Inc. now owns 70,486 shares of the biopharmaceutical company’s stock worth $1,466,000 after buying an additional 3,815 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Alder BioPharmaceuticals (ALDR) traded down 2.65% during trading on Tuesday, hitting $9.20. The stock had a trading volume of 1,104,766 shares. The firm’s 50-day moving average price is $13.55 and its 200-day moving average price is $18.85. Alder BioPharmaceuticals has a 1-year low of $9.15 and a 1-year high of $36.48. The stock’s market cap is $463.77 million.

Alder BioPharmaceuticals Company Profile

Alder BioPharmaceuticals, Inc, is a clinical-stage biopharmaceutical company that discovers, develops and seeks to commercialize genetically engineered therapeutic antibodies with the potential to meaningfully transform current treatment paradigms. Alder’s lead pivotal-stage product candidate, eptinezumab, is being evaluated for migraine prevention.

Analyst Recommendations for Alder BioPharmaceuticals (NASDAQ:ALDR)

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