Alder Biopharmaceuticals (NASDAQ:ALDR) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, March 7th.
ALDR has been the subject of several other reports. Canaccord Genuity set a $22.00 target price on shares of Alder Biopharmaceuticals and gave the company a “buy” rating in a research note on Friday, January 12th. Cowen set a $23.00 target price on shares of Alder Biopharmaceuticals and gave the stock a “buy” rating in a research report on Monday, February 26th. BMO Capital Markets increased their price objective on shares of Alder Biopharmaceuticals to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. Zacks Investment Research raised shares of Alder Biopharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, March 1st. Finally, Mizuho reissued a “buy” rating and set a $29.00 price objective (down previously from $32.00) on shares of Alder Biopharmaceuticals in a report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $28.14.
Shares of Alder Biopharmaceuticals (NASDAQ ALDR) opened at $15.25 on Wednesday. The stock has a market cap of $1,010.89, a P/E ratio of -2.94 and a beta of 2.51. Alder Biopharmaceuticals has a 1-year low of $8.60 and a 1-year high of $23.80.
Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Alder Biopharmaceuticals in the fourth quarter valued at approximately $132,000. Jane Street Group LLC bought a new position in shares of Alder Biopharmaceuticals in the third quarter valued at $184,000. Paloma Partners Management Co bought a new position in shares of Alder Biopharmaceuticals in the fourth quarter valued at $222,000. Teacher Retirement System of Texas bought a new position in shares of Alder Biopharmaceuticals in the fourth quarter valued at $231,000. Finally, Voya Investment Management LLC grew its stake in shares of Alder Biopharmaceuticals by 8.4% in the second quarter. Voya Investment Management LLC now owns 22,304 shares of the biopharmaceutical company’s stock valued at $255,000 after buying an additional 1,734 shares in the last quarter. Institutional investors own 99.14% of the company’s stock.
About Alder Biopharmaceuticals
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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