UBS Group upgraded shares of Alder Biopharmaceuticals (NASDAQ:ALDR) from a sell rating to a neutral rating in a research note published on Tuesday morning, BenzingaRatingsTable reports. The firm currently has $19.50 target price on the biopharmaceutical company’s stock, up from their previous target price of $9.00.
Several other research analysts also recently weighed in on the stock. BMO Capital Markets downgraded shares of Alder Biopharmaceuticals from an outperform rating to a market perform rating in a report on Monday, September 16th. Morgan Stanley upgraded shares of Alder Biopharmaceuticals from an underweight rating to an equal weight rating and upped their price objective for the stock from $15.00 to $18.00 in a report on Monday, September 16th. Needham & Company LLC downgraded shares of Alder Biopharmaceuticals from a buy rating to a hold rating in a report on Monday, September 16th. ValuEngine upgraded shares of Alder Biopharmaceuticals from a hold rating to a buy rating in a report on Monday, September 16th. Finally, Leerink Swann started coverage on shares of Alder Biopharmaceuticals in a report on Tuesday, May 28th. They issued an outperform rating and a $21.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $17.61.
ALDR opened at $18.64 on Tuesday. The company has a current ratio of 8.94, a quick ratio of 8.94 and a debt-to-equity ratio of 1.74. The company’s fifty day moving average price is $10.20 and its two-hundred day moving average price is $11.59. Alder Biopharmaceuticals has a 1-year low of $8.39 and a 1-year high of $18.90. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -3.83 and a beta of 2.56.
Alder Biopharmaceuticals (NASDAQ:ALDR) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.72) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.99) by $0.27. As a group, equities analysts forecast that Alder Biopharmaceuticals will post -4.13 earnings per share for the current fiscal year.
In other news, Director Jeffrey T. L. Smith sold 32,728 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $18.44, for a total value of $603,504.32. Following the completion of the sale, the director now owns 27,999 shares in the company, valued at $516,301.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 15.40% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd grew its position in Alder Biopharmaceuticals by 236.9% during the second quarter. Point72 Hong Kong Ltd now owns 3,217 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 2,262 shares during the period. Diamond Hill Capital Management Inc. bought a new position in Alder Biopharmaceuticals during the second quarter valued at about $126,000. Fulcrum Capital LLC bought a new position in Alder Biopharmaceuticals during the second quarter valued at about $127,000. Quantamental Technologies LLC bought a new position in Alder Biopharmaceuticals during the second quarter valued at about $156,000. Finally, Quantitative Systematic Strategies LLC bought a new position in Alder Biopharmaceuticals during the second quarter valued at about $167,000.
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 in the United States, Australia, and Ireland. The company's lead product candidate is eptinezumab, a monoclonal antibody (mAb) inhibiting calcitonin gene-related peptide, which is in the late-stage clinical development for the prevention of migraine.
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