Today: Alder BioPharmaceuticals Inc. (ALDR) Receives Buy Rating from BMO Capital Markets

Today: Alder BioPharmaceuticals Inc. (ALDR) Receives Buy Rating from BMO Capital Markets

BMO Capital Markets reiterated their buy rating on shares of Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) in a report published on Tuesday morning.

A number of other research analysts have also recently commented on the company. Credit Suisse Group AG reaffirmed a buy rating and set a $38.00 price target on shares of Alder BioPharmaceuticals in a research report on Tuesday, November 22nd. Jefferies Group reaffirmed a buy rating and set a $57.00 price target on shares of Alder BioPharmaceuticals in a research report on Sunday, November 20th. Piper Jaffray Cos. reaffirmed a buy rating and set a $47.00 price target on shares of Alder BioPharmaceuticals in a research report on Thursday, November 17th. Zacks Investment Research upgraded Alder BioPharmaceuticals from a hold rating to a buy rating and set a $37.00 price objective on the stock in a research note on Tuesday, November 15th. Finally, Aegis started coverage on Alder BioPharmaceuticals in a research note on Monday, November 7th. They set a buy rating and a $41.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Alder BioPharmaceuticals has a consensus rating of Buy and an average target price of $43.38.

Shares of Alder BioPharmaceuticals (NASDAQ:ALDR) opened at 26.80 on Tuesday. Alder BioPharmaceuticals has a 52 week low of $15.82 and a 52 week high of $39.43. The firm’s market capitalization is $1.35 billion. The stock’s 50 day moving average price is $28.00 and its 200-day moving average price is $29.05.

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

In other Alder BioPharmaceuticals news, VP Jeffrey T. L. Smith sold 3,000 shares of the company’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $31.14, for a total value of $93,420.00. Following the transaction, the vice president now directly owns 3,000 shares in the company, valued at approximately $93,420. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Randall C. Schatzman sold 10,000 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $25.16, for a total value of $251,600.00. Following the completion of the transaction, the chief executive officer now owns 124,768 shares in the company, valued at $3,139,162.88. The disclosure for this sale can be found here. 11.50% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Alder BioPharmaceuticals during the third quarter worth about $106,000. BNP Paribas Arbitrage SA boosted its position 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 purchased a new position in Alder BioPharmaceuticals during the second quarter worth about $129,000. Teacher Retirement System of Texas boosted its position 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. boosted its position 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.

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