Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) received a $41.00 target price from Aegis in a report issued on Thursday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Aegis’ price target suggests a potential upside of 52.99% from the company’s previous close.
Other equities analysts have also recently issued research reports about the company. Piper Jaffray Cos. set a $47.00 price target on Alder BioPharmaceuticals and gave the company a “buy” rating in a report on Friday. Zacks Investment Research cut Alder BioPharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday. BMO Capital Markets assumed coverage on Alder BioPharmaceuticals in a report on Thursday, November 10th. They issued an “outperform” rating and a $42.00 price target 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 target for the company. Finally, Brean Capital reaffirmed a “positive” rating and issued a $45.00 price target on shares of Alder BioPharmaceuticals in a report on Wednesday, July 27th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Alder BioPharmaceuticals presently has an average rating of “Buy” and an average price target of $43.38.
Alder BioPharmaceuticals (NASDAQ:ALDR) traded up 4.69% during mid-day trading on Thursday, hitting $26.80. The stock had a trading volume of 297,293 shares. Alder BioPharmaceuticals has a 1-year low of $15.82 and a 1-year high of $38.74. The firm’s market cap is $1.35 billion. The stock has a 50 day moving average of $28.00 and a 200-day moving average of $29.05.
Alder BioPharmaceuticals (NASDAQ:ALDR) last posted its quarterly earnings results on Thursday, October 27th. The biopharmaceutical company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.15. During the same period last year, the firm posted ($0.62) earnings per share. Analysts predict that Alder BioPharmaceuticals will post ($3.13) EPS for the current fiscal year.
In related news, CEO Randall C. Schatzman sold 10,000 shares of the stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $25.16, for a total transaction 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 filing with the SEC, which can be accessed through this hyperlink. Also, CEO Randall C. Schatzman sold 8,181 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $31.15, for a total value of $254,838.15. Following 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 owned by insiders.
Large investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors raised its stake in Alder BioPharmaceuticals by 4.2% in the first quarter. BlackRock Fund Advisors now owns 1,136,823 shares of the biopharmaceutical company’s stock worth $27,841,000 after buying an additional 45,908 shares during the period. State Street Corp raised its stake in Alder BioPharmaceuticals by 20.2% in the first quarter. State Street Corp now owns 1,195,800 shares of the biopharmaceutical company’s stock worth $29,282,000 after buying an additional 200,566 shares during the period. HBK Investments L P acquired a new stake in Alder BioPharmaceuticals during the first quarter worth approximately $282,000. Smith Asset Management Group LP acquired a new stake in Alder BioPharmaceuticals during the second quarter worth approximately $269,000. Finally, American Century Companies Inc. raised its stake in Alder BioPharmaceuticals by 5.9% in the second quarter. American Century Companies Inc. now owns 77,244 shares of the biopharmaceutical company’s stock worth $1,929,000 after buying an additional 4,274 shares during the period.
About Alder BioPharmaceuticals