Several other analysts also recently commented on the company. BMO Capital Markets downgraded Alder Biopharmaceuticals from an outperform rating to a market perform rating in a research note on Monday, September 16th. Morgan Stanley upgraded Alder Biopharmaceuticals from an underweight rating to an equal weight rating and raised their target price for the company from $15.00 to $18.00 in a research note on Monday, September 16th. Needham & Company LLC downgraded Alder Biopharmaceuticals from a buy rating to a hold rating in a research note on Monday, September 16th. Canaccord Genuity downgraded Alder Biopharmaceuticals from a buy rating to a hold rating and set a $20.00 target price for the company. in a research note on Monday, September 16th. Finally, Svb Leerink initiated coverage on Alder Biopharmaceuticals in a research note on Tuesday, May 28th. They issued an outperform rating for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $17.61.
Shares of ALDR opened at $18.64 on Wednesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 8.94 and a current ratio of 8.94. The stock has a 50-day moving average of $10.20 and a 200-day moving average of $11.59. Alder Biopharmaceuticals has a one year low of $8.39 and a one year high of $18.90.
Alder Biopharmaceuticals (NASDAQ:ALDR) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.72) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.99) by $0.27. As a group, analysts forecast that Alder Biopharmaceuticals will post -4.13 EPS for the current year.
In related news, Director Jeffrey T. L. Smith sold 32,728 shares of the firm’s 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 transaction, the director now owns 27,999 shares of the company’s stock, valued at approximately $516,301.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 15.40% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd lifted its position in Alder Biopharmaceuticals by 236.9% in the 2nd quarter. Point72 Hong Kong Ltd now owns 3,217 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 2,262 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new position in Alder Biopharmaceuticals in the 2nd quarter valued at about $126,000. Fulcrum Capital LLC bought a new position in Alder Biopharmaceuticals in the 2nd quarter valued at about $127,000. Quantamental Technologies LLC bought a new position in Alder Biopharmaceuticals in the 2nd quarter valued at about $156,000. Finally, Quantitative Systematic Strategies LLC bought a new position in Alder Biopharmaceuticals in the 2nd 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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