Alder BioPharmaceuticals (NASDAQ:ALDR) has been assigned a $22.00 target price by research analysts at Canaccord Genuity in a research note issued to investors on Friday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity’s price target suggests a potential upside of 22.91% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Alder BioPharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday. BMO Capital Markets increased their price objective on shares of Alder BioPharmaceuticals to $26.00 and gave the company an “outperform” rating in a report on Tuesday. Mizuho restated a “buy” rating and issued a $29.00 price objective (down from $32.00) on shares of Alder BioPharmaceuticals in a report on Tuesday. ValuEngine upgraded shares of Alder BioPharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Thursday, January 4th. Finally, BidaskClub upgraded shares of Alder BioPharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $27.93.

Alder BioPharmaceuticals (ALDR) traded up $0.55 on Friday, hitting $17.90. 1,577,200 shares of the stock traded hands, compared to its average volume of 2,602,875. Alder BioPharmaceuticals has a twelve month low of $8.60 and a twelve month high of $25.45. The company has a market capitalization of $1,220.00, a PE ratio of -3.33 and a beta of 2.48.

Alder BioPharmaceuticals (NASDAQ:ALDR) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.92) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.21) by $0.29. During the same quarter in the prior year, the firm earned ($0.70) EPS. research analysts anticipate that Alder BioPharmaceuticals will post -5.14 EPS for the current fiscal year.

In other Alder BioPharmaceuticals news, insider Mark James Litton sold 16,519 shares of the stock in a transaction 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 sale, the insider now directly owns 116,451 shares in the company, valued at $1,257,670.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 10.60% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc raised its holdings in Alder BioPharmaceuticals by 2.6% in the second quarter. Legal & General Group Plc now owns 15,496 shares of the biopharmaceutical company’s stock worth $177,000 after purchasing an additional 400 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Alder BioPharmaceuticals by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 37,488 shares of the biopharmaceutical company’s stock worth $430,000 after purchasing an additional 698 shares during the period. Voya Investment Management LLC raised its holdings in Alder BioPharmaceuticals by 8.4% in the second quarter. Voya Investment Management LLC now owns 22,304 shares of the biopharmaceutical company’s stock worth $255,000 after purchasing an additional 1,734 shares during the period. Russell Investments Group Ltd. raised its holdings in Alder BioPharmaceuticals by 7.2% in the second quarter. Russell Investments Group Ltd. now owns 42,416 shares of the biopharmaceutical company’s stock worth $486,000 after purchasing an additional 2,837 shares during the period. Finally, Teachers Advisors LLC raised its holdings in Alder BioPharmaceuticals by 3.8% in the second quarter. Teachers Advisors LLC now owns 84,705 shares of the biopharmaceutical company’s stock worth $970,000 after purchasing an additional 3,091 shares during the period. Institutional investors own 96.80% of the company’s stock.

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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.

Analyst Recommendations for Alder BioPharmaceuticals (NASDAQ:ALDR)

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