Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR)’s share price traded up 17.4% during trading on Tuesday after BMO Capital Markets raised their price target on the stock to $26.00. BMO Capital Markets currently has an outperform rating on the stock. Alder BioPharmaceuticals traded as high as $16.00 and last traded at $15.20. 6,900,700 shares traded hands during mid-day trading, an increase of 195% from the average session volume of 2,342,060 shares. The stock had previously closed at $12.95.
A number of other equities analysts have also commented on ALDR. Cowen assumed coverage on Alder BioPharmaceuticals in a report on Tuesday, September 26th. They issued an “outperform” rating and a $20.00 price target for the company. BidaskClub raised Alder BioPharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Mizuho reaffirmed a “buy” rating and issued a $29.00 price target (down from $32.00) on shares of Alder BioPharmaceuticals in a report on Tuesday. ValuEngine raised Alder BioPharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Thursday, January 4th. Finally, Canaccord Genuity assumed coverage on Alder BioPharmaceuticals in a report on Thursday, October 26th. They issued a “buy” rating and a $20.00 price target for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $27.79.
In related news, insider Mark James Litton sold 16,519 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $10.80, for a total value of $178,405.20. Following the sale, the insider now owns 116,451 shares in the company, valued at $1,257,670.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 10.60% of the company’s stock.
The firm has a market capitalization of $1,170.00, a PE ratio of -3.23 and a beta of 2.48.
Alder BioPharmaceuticals (NASDAQ:ALDR) last issued its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.92) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.21) by $0.29. During the same period in the previous year, the company posted ($0.70) earnings per share. analysts anticipate that Alder BioPharmaceuticals, Inc. will post -5.14 earnings per share for the current year.
Alder BioPharmaceuticals Company Profile
Alder BioPharmaceuticals, Inc, is a clinical-stage biopharmaceutical company that discovers, develops and seeks to commercialize genetically engineered therapeutic antibodies with the potential to meaningfully transform current treatment paradigms. Alder’s lead pivotal-stage product candidate, eptinezumab, is being evaluated for migraine prevention.
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