Today, Alder BioPharmaceuticals Inc. (ALDR) Forecasted to Post FY2017 Earnings of ($3.76) Per Share

Today, Alder BioPharmaceuticals Inc. (ALDR) Forecasted to Post FY2017 Earnings of ($3.76) Per Share
Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) – Equities researchers at Jefferies Group cut their FY2017 earnings per share (EPS) estimates for shares of Alder BioPharmaceuticals in a report issued on Monday. Jefferies Group analyst B. Abrahams now anticipates that the brokerage will post earnings of ($3.76) per share for the year, down from their previous forecast of ($2.62). Jefferies Group has a “Buy” rating and a $57.00 price objective on the stock. Jefferies Group also issued estimates for Alder BioPharmaceuticals’ FY2018 earnings at ($4.05) EPS, FY2019 earnings at ($4.17) EPS and FY2020 earnings at ($3.06) EPS.

A number of other research firms have also recently weighed in on ALDR. Zacks Investment Research upgraded shares of Alder BioPharmaceuticals from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Tuesday, September 27th. Brean Capital assumed coverage on shares of Alder BioPharmaceuticals in a research note on Friday, September 30th. They set a “buy” rating and a $45.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on shares of Alder BioPharmaceuticals in a research note on Tuesday, September 13th. They set an “overweight” rating and a $40.00 target price on the stock. Piper Jaffray Cos. restated a “buy” rating and set a $47.00 target price on shares of Alder BioPharmaceuticals in a research note on Thursday, November 17th. Finally, BMO Capital Markets assumed coverage on shares of Alder BioPharmaceuticals in a research note on Thursday, November 10th. They set an “outperform” rating and a $42.00 target price on the stock. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Alder BioPharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $43.38.

Alder BioPharmaceuticals (NASDAQ:ALDR) opened at 25.60 on Thursday. The company’s market capitalization is $1.29 billion. The stock’s 50 day moving average price is $28.19 and its 200-day moving average price is $29.04. Alder BioPharmaceuticals has a 52 week low of $15.82 and a 52 week 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 (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.85) by $0.15. During the same period in the prior year, the firm earned ($0.62) EPS.

In other news, CEO Randall C. Schatzman sold 10,000 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $25.16, for a total value of $251,600.00. Following the sale, the chief executive officer now directly owns 124,768 shares in the company, valued at approximately $3,139,162.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Randall C. Schatzman sold 8,181 shares of the business’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $31.15, for a total transaction of $254,838.15. Following the completion of the sale, the chief executive officer now owns 122,949 shares in the company, valued at $3,829,861.35. The disclosure for this sale can be found here. 11.50% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Alder BioPharmaceuticals by 40.6% in the second quarter. Vanguard Group Inc. now owns 3,092,518 shares of the biopharmaceutical company’s stock valued at $77,220,000 after buying an additional 893,334 shares during the last quarter. FMR LLC increased its position in shares of Alder BioPharmaceuticals by 12.8% in the second quarter. FMR LLC now owns 7,404,134 shares of the biopharmaceutical company’s stock valued at $184,881,000 after buying an additional 840,549 shares during the last quarter. Marshall Wace LLP increased its position in shares of Alder BioPharmaceuticals by 439.6% in the second quarter. Marshall Wace LLP now owns 944,459 shares of the biopharmaceutical company’s stock valued at $23,583,000 after buying an additional 769,439 shares during the last quarter. Redmile Group LLC purchased a new position in shares of Alder BioPharmaceuticals during the third quarter valued at approximately $23,022,000. Finally, Senator Investment Group LP purchased a new position in shares of Alder BioPharmaceuticals during the second quarter valued at approximately $17,511,000.

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