Shares of Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) have been given a consensus recommendation of “Buy” by the sixteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $29.23.
A number of analysts recently weighed in on ALDR shares. Credit Suisse Group set a $11.00 target price on shares of Alder BioPharmaceuticals and gave the stock a “hold” rating in a report on Thursday, August 24th. BidaskClub upgraded shares of Alder BioPharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Mizuho started coverage on shares of Alder BioPharmaceuticals in a report on Wednesday, September 6th. They set a “buy” rating and a $32.00 target price for the company. Royal Bank Of Canada started coverage on shares of Alder BioPharmaceuticals in a report on Thursday, September 14th. They set an “outperform” rating and a $17.00 target price for the company. Finally, Cowen started coverage on shares of Alder BioPharmaceuticals in a report on Tuesday, September 26th. They set an “outperform” rating and a $20.00 target price for the company.
Alder BioPharmaceuticals (ALDR) traded down $0.25 during midday trading on Monday, hitting $10.70. 521,777 shares of the company were exchanged, compared to its average volume of 1,112,190. Alder BioPharmaceuticals has a fifty-two week low of $8.60 and a fifty-two week high of $25.45.
In related news, insider Mark James Litton sold 16,519 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $10.80, for a total value of $178,405.20. Following the completion of the transaction, the insider now owns 116,451 shares of the company’s stock, valued at approximately $1,257,670.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 10.60% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Alder BioPharmaceuticals by 5.5% during the 2nd quarter. Vanguard Group Inc. now owns 3,626,573 shares of the biopharmaceutical company’s stock valued at $41,525,000 after buying an additional 187,871 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Alder BioPharmaceuticals during the 2nd quarter valued at $36,956,000. Redmile Group LLC boosted its stake in shares of Alder BioPharmaceuticals by 16.4% during the 2nd quarter. Redmile Group LLC now owns 2,223,811 shares of the biopharmaceutical company’s stock valued at $25,463,000 after buying an additional 313,925 shares during the period. State Street Corp boosted its stake in shares of Alder BioPharmaceuticals by 9.4% during the 2nd quarter. State Street Corp now owns 1,944,755 shares of the biopharmaceutical company’s stock valued at $22,267,000 after buying an additional 167,642 shares during the period. Finally, BB Biotech AG boosted its stake in shares of Alder BioPharmaceuticals by 15.2% during the 2nd quarter. BB Biotech AG now owns 1,941,008 shares of the biopharmaceutical company’s stock valued at $22,225,000 after buying an additional 255,858 shares during the period. 96.88% of the stock is owned by hedge funds and other institutional investors.
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About Alder BioPharmaceuticals
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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