Trade Report: Today: Alder BioPharmaceuticals Inc. (ALDR) Receives Consensus Recommendation of “Buy” from Analysts

Today: Alder BioPharmaceuticals Inc. (ALDR) Receives Consensus Recommendation of “Buy” from Analysts

Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) has received a consensus recommendation of “Buy” from the ten brokerages that are currently covering the firm. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $44.67.

A number of research firms have issued reports on ALDR. BMO Capital Markets reiterated a “buy” rating on shares of Alder BioPharmaceuticals in a report on Tuesday, November 22nd. Aegis set a $41.00 target price on Alder BioPharmaceuticals and gave the stock a “buy” rating in a research note on Thursday. Piper Jaffray Cos. set a $47.00 target price on Alder BioPharmaceuticals and gave the stock a “buy” rating in a research note on Friday. Zacks Investment Research raised Alder BioPharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, November 1st. Finally, Jefferies Group reissued a “buy” rating and issued a $57.00 target price on shares of Alder BioPharmaceuticals in a research note on Sunday, November 20th.

Shares of Alder BioPharmaceuticals (NASDAQ:ALDR) traded down 8.02% during midday trading on Monday, reaching $24.65. The company had a trading volume of 660,969 shares. The firm’s market capitalization is $1.24 billion. The company has a 50 day moving average of $28.00 and a 200 day moving average of $29.05. Alder BioPharmaceuticals has a 12-month low of $15.82 and a 12-month high of $39.43.

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

In other Alder BioPharmaceuticals news, VP Jeffrey T. L. Smith sold 3,000 shares of the stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $32.49, for a total value of $97,470.00. Following the transaction, the vice president now owns 3,000 shares of the company’s stock, valued at $97,470. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Randall C. Schatzman sold 10,000 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $32.48, for a total value of $324,800.00. Following the completion of the transaction, the insider now directly owns 124,768 shares in the company, valued at approximately $4,052,464.64. The disclosure for this sale can be found here. Corporate insiders own 11.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its position in Alder BioPharmaceuticals by 1.1% in the third quarter. Principal Financial Group Inc. now owns 8,336 shares of the biopharmaceutical company’s stock worth $273,000 after buying an additional 92 shares in the last quarter. Teachers Advisors LLC increased its position in Alder BioPharmaceuticals by 1.3% in the third quarter. Teachers Advisors LLC now owns 75,638 shares of the biopharmaceutical company’s stock worth $2,479,000 after buying an additional 967 shares in the last quarter. California State Teachers Retirement System increased its position in Alder BioPharmaceuticals by 1.0% in the third quarter. California State Teachers Retirement System now owns 99,234 shares of the biopharmaceutical company’s stock worth $3,252,000 after buying an additional 1,000 shares in the last quarter. Swiss National Bank increased its position in Alder BioPharmaceuticals by 1.7% in the third quarter. Swiss National Bank now owns 64,642 shares of the biopharmaceutical company’s stock worth $2,118,000 after buying an additional 1,100 shares in the last quarter. Finally, Rock Springs Capital Management LP increased its position in Alder BioPharmaceuticals by 0.8% in the third quarter. Rock Springs Capital Management LP now owns 182,000 shares of the biopharmaceutical company’s stock worth $5,964,000 after buying an additional 1,500 shares in the last quarter.

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