Alder BioPharmaceuticals (NASDAQ:ALDR) was upgraded by stock analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a report issued on Thursday.
Several other research firms have also issued reports on ALDR. BidaskClub upgraded shares of Alder BioPharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday. BMO Capital Markets restated a “buy” rating and issued a $22.00 price target on shares of Alder BioPharmaceuticals in a research report on Wednesday. Mizuho reaffirmed a “buy” rating and set a $32.00 price objective on shares of Alder BioPharmaceuticals in a report on Wednesday, November 8th. Cowen started coverage on shares of Alder BioPharmaceuticals in a report on Tuesday, September 26th. They set an “outperform” rating and a $20.00 price objective for the company. Finally, Canaccord Genuity started coverage on shares of Alder BioPharmaceuticals in a report on Thursday, October 26th. They set a “buy” rating and a $20.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $27.71.
Alder BioPharmaceuticals (NASDAQ ALDR) traded up $0.50 during midday trading on Thursday, reaching $13.40. 1,000,174 shares of the company’s stock traded hands, compared to its average volume of 1,203,733. The firm has a market cap of $897.21, a price-to-earnings ratio of -2.50 and a beta of 2.48. Alder BioPharmaceuticals has a 52 week low of $8.60 and a 52 week high of $25.45.
In related news, insider Mark James Litton sold 16,519 shares of Alder BioPharmaceuticals stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $10.80, for a total transaction of $178,405.20. Following the completion of the transaction, the insider now directly owns 116,451 shares of the company’s stock, valued at approximately $1,257,670.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.60% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in ALDR. Quantitative Systematic Strategies LLC bought a new position in Alder BioPharmaceuticals during the 3rd quarter valued at about $132,000. Legal & General Group Plc lifted its holdings in Alder BioPharmaceuticals by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 15,496 shares of the biopharmaceutical company’s stock valued at $177,000 after purchasing an additional 400 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Alder BioPharmaceuticals by 109.4% during the 2nd quarter. SG Americas Securities LLC now owns 15,580 shares of the biopharmaceutical company’s stock valued at $178,000 after purchasing an additional 8,140 shares during the last quarter. Jane Street Group LLC bought a new position in Alder BioPharmaceuticals during the 3rd quarter valued at about $184,000. Finally, Voya Investment Management LLC lifted its holdings in Alder BioPharmaceuticals by 8.4% during the 2nd quarter. Voya Investment Management LLC now owns 22,304 shares of the biopharmaceutical company’s stock valued at $255,000 after purchasing an additional 1,734 shares during the last quarter. 96.80% 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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