Alder Biopharmaceuticals (NASDAQ:ALDR) had its price target lowered by equities researchers at Credit Suisse Group from $19.00 to $17.00 in a report issued on Tuesday. The brokerage currently has a “hold” rating on the biopharmaceutical company’s stock. Credit Suisse Group’s price objective indicates a potential upside of 14.86% from the stock’s current price.
A number of other equities research analysts have also recently issued reports on ALDR. BMO Capital Markets lifted their price target on shares of Alder Biopharmaceuticals from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, August 8th. ValuEngine raised shares of Alder Biopharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 2nd. Canaccord Genuity lifted their price target on shares of Alder Biopharmaceuticals from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, August 9th. Zacks Investment Research raised shares of Alder Biopharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. Finally, Stifel Nicolaus began coverage on shares of Alder Biopharmaceuticals in a research note on Tuesday, August 7th. They issued a “buy” rating and a $30.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. Alder Biopharmaceuticals presently has a consensus rating of “Hold” and an average target price of $21.58.
Shares of NASDAQ ALDR opened at $14.80 on Tuesday. The company has a market cap of $979.19 million, a PE ratio of -2.99 and a beta of 2.70. Alder Biopharmaceuticals has a 12 month low of $9.55 and a 12 month 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 issued its quarterly earnings data on Monday, November 5th. The biopharmaceutical company reported ($0.91) EPS for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.22. As a group, analysts forecast that Alder Biopharmaceuticals will post -4.62 EPS for the current fiscal year.
In other news, Director Jeffrey T. L. Smith sold 5,040 shares of Alder Biopharmaceuticals stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $18.00, for a total transaction of $90,720.00. Following the transaction, the director now owns 5,871 shares in the company, valued at approximately $105,678. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John A. Latham sold 24,999 shares of Alder Biopharmaceuticals stock in a transaction on Monday, October 1st. The stock was sold at an average price of $15.44, for a total value of $385,984.56. Following the transaction, the insider now owns 261,878 shares in the company, valued at approximately $4,043,396.32. The disclosure for this sale can be found here. Insiders sold a total of 90,120 shares of company stock worth $1,407,922 in the last 90 days. 17.40% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quantitative Systematic Strategies LLC raised its holdings in shares of Alder Biopharmaceuticals by 25.0% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 13,115 shares of the biopharmaceutical company’s stock worth $207,000 after acquiring an additional 2,626 shares during the period. Cornerstone Wealth Management LLC purchased a new stake in Alder Biopharmaceuticals in the 3rd quarter valued at about $400,000. Legal & General Group Plc raised its holdings in Alder Biopharmaceuticals by 31.1% in the 1st quarter. Legal & General Group Plc now owns 25,547 shares of the biopharmaceutical company’s stock valued at $324,000 after buying an additional 6,060 shares during the period. SG Americas Securities LLC purchased a new stake in Alder Biopharmaceuticals in the 2nd quarter valued at about $107,000. Finally, Tower Research Capital LLC TRC purchased a new stake in Alder Biopharmaceuticals in the 2nd quarter valued at about $128,000.
About Alder Biopharmaceuticals
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.
Read More: What is Compound Interest?
Receive News & Ratings for Alder Biopharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alder Biopharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.