Several other equities research analysts have also recently issued reports on the company. Zacks Investment Research upgraded Alder Biopharmaceuticals from a hold rating to a strong-buy rating and set a $11.00 price target for the company in a research note on Friday, August 9th. Svb Leerink began coverage on Alder Biopharmaceuticals in a research note on Tuesday, May 28th. They issued an outperform rating for the company. Morgan Stanley upgraded Alder Biopharmaceuticals from an underweight rating to an equal weight rating and boosted their price target for the company from $15.00 to $18.00 in a research note on Monday, September 16th. UBS Group upgraded Alder Biopharmaceuticals from a sell rating to a neutral rating and boosted their price target for the company from $9.00 to $19.50 in a research note on Tuesday, September 17th. Finally, Mizuho boosted their price target on Alder Biopharmaceuticals from $15.00 to $18.00 and gave the company a neutral rating in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $17.61.
Shares of ALDR stock opened at $18.64 on Wednesday. The company has a current ratio of 8.94, a quick ratio of 8.94 and a debt-to-equity ratio of 1.74. The stock has a 50 day simple moving average of $10.20 and a 200 day simple moving average of $11.59. Alder Biopharmaceuticals has a 1 year low of $8.39 and a 1 year high of $18.90.
In other Alder Biopharmaceuticals news, Director Jeffrey T. L. Smith sold 32,728 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $18.44, for a total transaction of $603,504.32. Following the completion of the sale, the director now directly owns 27,999 shares in the company, valued at $516,301.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.40% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nomura Holdings Inc. bought a new position in shares of Alder Biopharmaceuticals in the 2nd quarter valued at $1,123,000. Empire Life Investments Inc. lifted its stake in shares of Alder Biopharmaceuticals by 2,494.2% in the 2nd quarter. Empire Life Investments Inc. now owns 247,333 shares of the biopharmaceutical company’s stock valued at $2,911,000 after acquiring an additional 237,799 shares during the last quarter. United Services Automobile Association lifted its stake in shares of Alder Biopharmaceuticals by 0.9% in the 2nd quarter. United Services Automobile Association now owns 238,335 shares of the biopharmaceutical company’s stock valued at $2,805,000 after acquiring an additional 2,115 shares during the last quarter. Nuveen Asset Management LLC bought a new position in shares of Alder Biopharmaceuticals in the 2nd quarter valued at $3,230,000. Finally, D. E. Shaw & Co. Inc. bought a new position in shares of Alder Biopharmaceuticals in the 2nd quarter valued at $647,000.
About Alder Biopharmaceuticals
Alder BioPharmaceuticals, Inc operates as a clinical-stage biopharmaceutical company. It discovers, develops, and commercializes therapeutic antibodies to transform the treatment paradigm for patients with migraine in the United States, Australia, and Ireland. The company's lead product candidate is eptinezumab, a monoclonal antibody (mAb) inhibiting calcitonin gene-related peptide, which is in the late-stage clinical development for the prevention of migraine.
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