Alder BioPharmaceuticals, Inc. (ALDR) Receives Buy Rating from Mizuho
Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR)‘s stock had its “buy” rating restated by analysts at Mizuho in a research report issued to clients and investors on Friday. They currently have a $32.00 price objective on the biopharmaceutical company’s stock. Mizuho’s price objective would indicate a potential upside of 213.73% from the company’s previous close.
The analysts wrote, “We received an email from Alder yesterday on its recap of the 18th Congress of the International Headache Society (IHC) meeting as it relates to eptinezumab. What we found as incremental data points are Alder’s interviews with practicing physicians on the advantages of eptinezumab. We believe the IV formulation for eptinezumab is a positive differentiation from other CGRP products in late stage development because of its reimbursement and potentially better compliance.””
A number of other equities analysts have also recently weighed in on ALDR. BMO Capital Markets restated an “outperform” rating and issued a $27.00 price target (down previously from $39.00) on shares of Alder BioPharmaceuticals in a report on Wednesday, August 9th. Needham & Company LLC reissued a “buy” rating and set a $26.00 price target (down from $36.00) on shares of Alder BioPharmaceuticals in a research report on Thursday, August 10th. Royal Bank Of Canada initiated coverage on Alder BioPharmaceuticals in a research report on Thursday. They set an “outperform” rating and a $17.00 price target on the stock. Zacks Investment Research downgraded Alder BioPharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Leerink Swann restated an “outperform” rating and set a $32.00 price objective on shares of Alder BioPharmaceuticals in a research note on Monday, June 12th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. Alder BioPharmaceuticals presently has an average rating of “Hold” and a consensus price target of $30.62.
Shares of Alder BioPharmaceuticals (ALDR) traded up 2.51% during mid-day trading on Friday, hitting $10.20. 6,546,066 shares of the stock traded hands. The stock has a 50 day moving average price of $9.66 and a 200-day moving average price of $16.05. The company’s market cap is $690.67 million. Alder BioPharmaceuticals has a one year low of $8.60 and a one year high of $35.62.
Alder BioPharmaceuticals (NASDAQ:ALDR) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.48) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.67) by $0.19. The firm had revenue of $0.68 million for the quarter. During the same period in the prior year, the firm earned ($0.79) EPS. The business’s revenue for the quarter was up 518.2% on a year-over-year basis. On average, analysts forecast that Alder BioPharmaceuticals will post ($5.74) earnings per share for the current fiscal 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 on Tuesday, July 18th. The stock was purchased at an average price of $10.00 per share, for a total transaction of $250,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 10.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can grew its stake in shares of Alder BioPharmaceuticals by 3,047.2% during the first quarter. Bank of Montreal Can now owns 5,602 shares of the biopharmaceutical company’s stock worth $117,000 after purchasing an additional 5,424 shares during the period. Stifel Financial Corp bought a new stake in shares of Alder BioPharmaceuticals in the first quarter valued at about $206,000. Trexquant Investment LP bought a new stake in Alder BioPharmaceuticals during the first quarter worth about $265,000. Legal & General Group Plc raised its holdings in Alder BioPharmaceuticals by 2.6% during the second quarter. Legal & General Group Plc now owns 15,496 shares of the biopharmaceutical company’s stock worth $177,000 after acquiring an additional 400 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Alder BioPharmaceuticals by 109.4% during the second quarter. SG Americas Securities LLC now owns 15,580 shares of the biopharmaceutical company’s stock worth $178,000 after acquiring an additional 8,140 shares in the last quarter. 76.16% of the stock is owned by institutional investors and hedge funds.
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.
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