Equities research analysts at Royal Bank Of Canada initiated coverage on shares of Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) in a research report issued on Thursday, The Fly reports. The firm set an “outperform” rating on the biopharmaceutical company’s stock.

ALDR has been the topic of a number of other reports. Zacks Investment Research upgraded Alder BioPharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Tuesday, July 11th. Credit Suisse Group cut 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 research note on Wednesday, June 28th. Mizuho started coverage on Alder BioPharmaceuticals in a research note on Wednesday, September 6th. They set a “buy” rating and a $32.00 target price on the stock. Wells Fargo & Company reissued an “outperform” rating and issued a $51.00 price objective on shares of Alder BioPharmaceuticals in a report on Wednesday, June 28th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $27.00 price objective (down previously from $39.00) on shares of Alder BioPharmaceuticals in a report on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. Alder BioPharmaceuticals currently has a consensus rating of “Hold” and an average target price of $31.75.

Alder BioPharmaceuticals (ALDR) traded down 1.98% during trading on Thursday, hitting $9.90. 1,256,571 shares of the company’s stock traded hands. Alder BioPharmaceuticals has a 52-week low of $8.60 and a 52-week high of $35.62. The company’s 50 day moving average price is $9.67 and its 200 day moving average price is $16.14. The company’s market cap is $670.36 million.

Alder BioPharmaceuticals (NASDAQ:ALDR) last released its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.48) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.67) by $0.19. The business had revenue of $0.68 million for the quarter. Alder BioPharmaceuticals’s revenue for the quarter was up 518.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.79) EPS. Analysts expect that Alder BioPharmaceuticals will post ($5.74) earnings per share for the current year.

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In other Alder BioPharmaceuticals news, Director Stephen M. Dow acquired 25,000 shares of the business’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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 10.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of ALDR. Janus Henderson Group PLC purchased a new position in shares of Alder BioPharmaceuticals during the second quarter worth about $36,956,000. Redmile Group LLC grew its holdings in shares of Alder BioPharmaceuticals by 107.5% during the first quarter. Redmile Group LLC now owns 1,909,886 shares of the biopharmaceutical company’s stock worth $39,726,000 after purchasing an additional 989,336 shares in the last quarter. Eagle Asset Management Inc. grew its holdings in shares of Alder BioPharmaceuticals by 52.0% during the second quarter. Eagle Asset Management Inc. now owns 1,756,507 shares of the biopharmaceutical company’s stock worth $20,112,000 after purchasing an additional 601,242 shares in the last quarter. Emerald Advisers Inc. PA grew its holdings in shares of Alder BioPharmaceuticals by 98.3% during the second quarter. Emerald Advisers Inc. PA now owns 1,193,672 shares of the biopharmaceutical company’s stock worth $13,668,000 after purchasing an additional 591,840 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its position in Alder BioPharmaceuticals by 125.5% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 942,709 shares of the biopharmaceutical company’s stock worth $10,794,000 after buying an additional 524,746 shares during the last quarter. 76.16% of the stock is owned by institutional investors.

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.

The Fly

Analyst Recommendations for Alder BioPharmaceuticals (NASDAQ:ALDR)

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