Alder Biopharmaceuticals (ALDR) Given a $23.00 Price Target at Cowen

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Alder Biopharmaceuticals (NASDAQ:ALDR) received a $23.00 target price from research analysts at Cowen in a research note issued to investors on Monday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Cowen’s price target would suggest a potential upside of 61.40% from the stock’s current price.

Several other brokerages have also issued reports on ALDR. ValuEngine lowered Alder Biopharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $21.00 target price on shares of Alder Biopharmaceuticals in a research report on Tuesday. Piper Jaffray Companies initiated coverage on Alder Biopharmaceuticals in a research report on Monday, August 6th. They set an “overweight” rating and a $28.00 target price for the company. Morgan Stanley initiated coverage on Alder Biopharmaceuticals in a research report on Monday, September 10th. They set an “underweight” rating and a $19.00 target price for the company. Finally, Zacks Investment Research lowered Alder Biopharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. Alder Biopharmaceuticals presently has an average rating of “Hold” and an average price target of $21.75.

Shares of ALDR stock opened at $14.25 on Monday. The firm has a market capitalization of $979.19 million, a price-to-earnings ratio of -2.88 and a beta of 2.70. Alder Biopharmaceuticals has a fifty-two week low of $9.55 and a fifty-two week high of $20.87. The company has a debt-to-equity ratio of 0.73, a quick ratio of 10.88 and a current ratio of 10.88.

Alder Biopharmaceuticals (NASDAQ:ALDR) last announced its quarterly earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.91) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.13) by $0.22. On average, analysts forecast that Alder Biopharmaceuticals will post -4.73 earnings per share for the current year.

In other news, insider John A. Latham sold 25,002 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $13.42, for a total transaction of $335,526.84. Following the completion of the transaction, the insider now directly owns 250,514 shares in the company, valued at approximately $3,361,897.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey T. L. Smith sold 5,040 shares of the company’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $13.42, for a total transaction of $67,636.80. Following the completion of the transaction, the director now owns 5,871 shares of the company’s stock, valued at $78,788.82. The disclosure for this sale can be found here. Insiders have sold a total of 90,120 shares of company stock valued at $1,407,922 over the last 90 days. Company insiders own 17.40% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Brown Advisory Inc. grew its position in Alder Biopharmaceuticals by 1.2% in the second quarter. Brown Advisory Inc. now owns 1,078,596 shares of the biopharmaceutical company’s stock worth $17,042,000 after acquiring an additional 12,432 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Alder Biopharmaceuticals by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 842,418 shares of the biopharmaceutical company’s stock worth $13,310,000 after purchasing an additional 19,634 shares during the last quarter. Bellevue Group AG lifted its stake in Alder Biopharmaceuticals by 8.4% in the second quarter. Bellevue Group AG now owns 758,964 shares of the biopharmaceutical company’s stock worth $11,992,000 after purchasing an additional 58,500 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Alder Biopharmaceuticals by 10.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 737,398 shares of the biopharmaceutical company’s stock worth $11,651,000 after purchasing an additional 69,327 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Alder Biopharmaceuticals by 34.9% in the second quarter. Renaissance Technologies LLC now owns 434,800 shares of the biopharmaceutical company’s stock worth $6,870,000 after purchasing an additional 112,500 shares during the last quarter.

Alder Biopharmaceuticals Company Profile

Alder BioPharmaceuticals, Inc operates as a clinical-stage biopharmaceutical company. It discovers, develops, and commercializes therapeutic antibodies to transform the treatment paradigm for patients with migraine and other serious neurological or inflammatory conditions in the United States, Australia, and Ireland.

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