Alder BioPharmaceuticals (NASDAQ:ALDR) received a $22.00 target price from equities research analysts at Canaccord Genuity in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity’s target price would suggest a potential upside of 23.25% from the company’s previous close.
ALDR has been the subject of a number of other reports. BMO Capital Markets increased their price objective on Alder BioPharmaceuticals to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. BidaskClub lowered Alder BioPharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 19th. Mizuho reissued a “buy” rating and issued a $29.00 price objective (down from $32.00) on shares of Alder BioPharmaceuticals in a report on Tuesday, January 9th. Zacks Investment Research lowered Alder BioPharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Royal Bank of Canada assumed coverage on Alder BioPharmaceuticals in a report on Thursday, September 14th. They issued an “outperform” rating and a $17.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $27.93.
Alder BioPharmaceuticals (ALDR) opened at $17.85 on Friday. Alder BioPharmaceuticals has a fifty-two week low of $8.60 and a fifty-two week high of $25.45. The stock has a market capitalization of $1,210.00, a P/E ratio of -3.32 and a beta of 2.48.
In other Alder BioPharmaceuticals news, insider Mark James Litton sold 16,520 shares of the stock in a transaction on Monday, October 16th. The stock was sold at an average price of $12.33, for a total transaction of $203,691.60. Following the completion of the transaction, the insider now directly owns 116,452 shares of the company’s stock, valued at approximately $1,435,853.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 10.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ALDR. Quantitative Systematic Strategies LLC bought a new position in Alder BioPharmaceuticals during the 3rd quarter valued at $132,000. Legal & General Group Plc boosted its stake in Alder BioPharmaceuticals by 2.6% during 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 boosted its stake in shares of Alder BioPharmaceuticals by 109.4% during the 2nd quarter. SG Americas Securities LLC now owns 15,580 shares of the biopharmaceutical company’s stock worth $178,000 after acquiring an additional 8,140 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Alder BioPharmaceuticals during the 3rd quarter worth $184,000. Finally, Voya Investment Management LLC boosted its stake in shares of Alder BioPharmaceuticals by 8.4% during the 2nd quarter. Voya Investment Management LLC now owns 22,304 shares of the biopharmaceutical company’s stock worth $255,000 after acquiring an additional 1,734 shares in the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.
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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.
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