Trade Report: Today, Alder BioPharmaceuticals Inc. (ALDR) Earns Buy Rating from Credit Suisse Group AG

Today, Alder BioPharmaceuticals Inc. (ALDR) Earns Buy Rating from Credit Suisse Group AG

Credit Suisse Group AG reissued their buy rating on shares of Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) in a report published on Tuesday morning. The brokerage currently has a $38.00 target price on the biopharmaceutical company’s stock.

Several other brokerages have also recently weighed in on ALDR. Zacks Investment Research upgraded Alder BioPharmaceuticals from a hold rating to a buy rating and set a $38.00 price objective for the company in a report on Tuesday, September 27th. Jefferies Group restated a buy rating and issued a $62.00 price objective on shares of Alder BioPharmaceuticals in a report on Wednesday, September 28th. Brean Capital assumed coverage on Alder BioPharmaceuticals in a report on Friday, September 30th. They issued a buy rating and a $45.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on Alder BioPharmaceuticals in a report on Tuesday, September 13th. They issued an overweight rating and a $40.00 price objective for the company. Finally, Piper Jaffray Cos. restated a buy rating and issued a $47.00 price objective on shares of Alder BioPharmaceuticals in a report on Thursday, November 17th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $43.38.

Alder BioPharmaceuticals (NASDAQ:ALDR) opened at 25.60 on Tuesday. The firm has a 50-day moving average price of $28.19 and a 200 day moving average price of $29.04. The firm’s market cap is $1.29 billion. Alder BioPharmaceuticals has a 12-month low of $15.82 and a 12-month high of $39.43.

Alder BioPharmaceuticals (NASDAQ:ALDR) last announced its quarterly earnings data on Thursday, October 27th. The biopharmaceutical company reported ($0.70) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.85) by $0.15. During the same period in the prior year, the firm posted ($0.62) earnings per share. Equities research analysts forecast that Alder BioPharmaceuticals will post ($3.13) EPS for the current year.

In other Alder BioPharmaceuticals news, insider Randall C. Schatzman sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $32.48, for a total transaction of $324,800.00. Following the completion of the sale, the insider now directly owns 124,768 shares in the company, valued at $4,052,464.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jeffrey T. L. Smith sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $32.49, for a total transaction of $97,470.00. Following the sale, the vice president now owns 3,000 shares of the company’s stock, valued at $97,470. The disclosure for this sale can be found here. Company insiders own 11.50% of the company’s stock.

A number of large investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Alder BioPharmaceuticals during the third quarter valued at about $106,000. BNP Paribas Arbitrage SA increased its stake in Alder BioPharmaceuticals by 110.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,844 shares of the biopharmaceutical company’s stock worth $126,000 after buying an additional 2,016 shares during the last quarter. Birchview Capital LP acquired a new stake in Alder BioPharmaceuticals during the second quarter worth $129,000. Teacher Retirement System of Texas increased its stake in Alder BioPharmaceuticals by 85.5% in the second quarter. Teacher Retirement System of Texas now owns 5,393 shares of the biopharmaceutical company’s stock worth $135,000 after buying an additional 2,485 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Alder BioPharmaceuticals by 3,363.4% in the third quarter. PNC Financial Services Group Inc. now owns 4,260 shares of the biopharmaceutical company’s stock worth $140,000 after buying an additional 4,137 shares during the last quarter.

Alder BioPharmaceuticals Company Profile

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