The Zacks Investment Research Downgrade Alder BioPharmaceuticals Inc. (ALDR) to Hold

The Zacks Investment Research Downgrade Alder BioPharmaceuticals Inc. (ALDR) to Hold

Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

According to Zacks, “Alder Biopharmaceuticals Inc. is a clinical-stage biopharmaceutical company. It discovers, develops and seeks to commercialize therapeutic antibodies. It is developing monoclonal antibodies comprising ALD403, for the prevention of migraine; and Clazakizumab, in the treatment of rheumatoid arthritis and psoriatic arthritis. Alder Biopharmaceuticals Inc. is headquartered in Bothell, Washington. “

A number of other equities research analysts have also recently issued reports on ALDR. Brean Capital restated a “positive” rating and set a $45.00 price objective on shares of Alder BioPharmaceuticals in a report on Wednesday, July 27th. Jefferies Group boosted their price objective on Alder BioPharmaceuticals from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. JPMorgan Chase & Co. started coverage on Alder BioPharmaceuticals in a report on Tuesday, September 13th. They set an “overweight” rating and a $40.00 price objective for the company. Piper Jaffray Cos. started coverage on Alder BioPharmaceuticals in a report on Monday, October 31st. They set an “overweight” rating and a $47.00 price objective for the company. Finally, Aegis started coverage on Alder BioPharmaceuticals in a report on Monday, November 7th. They set a “buy” rating and a $41.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $43.38.

Shares of Alder BioPharmaceuticals (NASDAQ:ALDR) opened at 26.80 on Thursday. Alder BioPharmaceuticals has a 12-month low of $15.82 and a 12-month high of $39.43. The company’s 50-day moving average price is $28.00 and its 200-day moving average price is $29.05. The firm’s market capitalization is $1.35 billion.

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

In other Alder BioPharmaceuticals news, insider John A. Latham sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $31.32, for a total transaction of $313,200.00. Following the completion of the transaction, the insider now directly owns 252,200 shares in the company, valued at $7,898,904. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Jeffrey T. L. Smith sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $32.49, for a total transaction 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 disclosure for this sale can be found here. 11.50% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in shares of Alder BioPharmaceuticals during the third quarter valued at approximately $106,000. BNP Paribas Arbitrage SA increased its position in shares of Alder BioPharmaceuticals by 110.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,844 shares of the biopharmaceutical company’s stock valued at $126,000 after buying an additional 2,016 shares in the last quarter. Birchview Capital LP purchased a new position in shares of Alder BioPharmaceuticals during the second quarter valued at approximately $129,000. Teacher Retirement System of Texas increased its position in shares of 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 valued at $135,000 after buying an additional 2,485 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of 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 valued at $140,000 after buying an additional 4,137 shares in the last quarter.

Alder BioPharmaceuticals Company Profile

Alder Biopharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company discovers, develops and focuses to commercialize therapeutic antibodies with the potential to transform current treatment paradigms. The Company has developed an antibody platform designed to select antibodies that have the potential to maximize efficacy, as well as speed of onset and durability of therapeutic response.

Related posts

Leave a Comment