BMO Capital Markets Boosts Alder BioPharmaceuticals (ALDR) Price Target to $26.00

Alder BioPharmaceuticals (NASDAQ:ALDR) had its price target lifted by BMO Capital Markets to $26.00 in a research note released on Tuesday, The Fly reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

A number of other brokerages have also recently commented on ALDR. Mizuho reaffirmed a buy rating and set a $29.00 price target (down previously from $32.00) on shares of Alder BioPharmaceuticals in a research report on Tuesday. ValuEngine raised Alder BioPharmaceuticals from a strong sell rating to a sell rating in a research report on Thursday, January 4th. BidaskClub raised Alder BioPharmaceuticals from a sell rating to a hold rating in a research report on Thursday, January 4th. Cowen began coverage on Alder BioPharmaceuticals in a research report on Tuesday, September 26th. They set an outperform rating and a $20.00 price target for the company. Finally, Canaccord Genuity began coverage on Alder BioPharmaceuticals in a research report on Thursday, October 26th. They set a buy rating and a $20.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $27.93.

Shares of Alder BioPharmaceuticals (NASDAQ:ALDR) opened at $17.85 on Tuesday. Alder BioPharmaceuticals has a 52-week low of $8.60 and a 52-week high of $25.45.

Alder BioPharmaceuticals (NASDAQ:ALDR) last issued its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.92) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.21) by $0.29. During the same period last year, the firm posted ($0.70) EPS. analysts predict that Alder BioPharmaceuticals will post -5.14 EPS for the current year.

In other news, insider Mark James Litton sold 16,519 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $10.80, for a total value of $178,405.20. Following the completion of the transaction, the insider now owns 116,451 shares of the company’s stock, valued at approximately $1,257,670.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 10.60% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Quantitative Systematic Strategies LLC acquired a new position in shares of Alder BioPharmaceuticals in the 3rd quarter valued at about $132,000. Jane Street Group LLC purchased a new position in shares of Alder BioPharmaceuticals in the 3rd quarter valued at about $184,000. Legal & General Group Plc increased its stake in shares of Alder BioPharmaceuticals by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 15,496 shares of the biopharmaceutical company’s stock valued at $177,000 after purchasing an additional 400 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Alder BioPharmaceuticals by 109.4% in the 2nd quarter. SG Americas Securities LLC now owns 15,580 shares of the biopharmaceutical company’s stock valued at $178,000 after purchasing an additional 8,140 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in shares of Alder BioPharmaceuticals by 8.4% in the 2nd quarter. Voya Investment Management LLC now owns 22,304 shares of the biopharmaceutical company’s stock valued at $255,000 after purchasing an additional 1,734 shares in the last quarter. 96.80% of the stock is owned by institutional investors and hedge funds.

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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.

The Fly

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