Alder BioPharmaceuticals (NASDAQ:ALDR) received a $20.00 price target from Canaccord Genuity in a research report issued to clients and investors on Monday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity’s price target points to a potential upside of 32.89% from the company’s current price.
ALDR has been the subject of a number of other reports. BidaskClub upgraded Alder BioPharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, March 7th. Cowen set a $23.00 price target on Alder BioPharmaceuticals and gave the company a “buy” rating in a report on Monday, February 26th. BMO Capital Markets set a $21.00 price target on Alder BioPharmaceuticals and gave the company a “buy” rating in a report on Wednesday, May 9th. ValuEngine upgraded Alder BioPharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $26.00 price target on shares of Alder BioPharmaceuticals in a report on Wednesday, May 9th. Two 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. Alder BioPharmaceuticals currently has an average rating of “Buy” and a consensus price target of $26.77.
Shares of Alder BioPharmaceuticals opened at $15.05 on Monday, according to MarketBeat. Alder BioPharmaceuticals has a twelve month low of $8.60 and a twelve month high of $20.00. The company has a quick ratio of 13.30, a current ratio of 13.31 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1.03 billion, a PE ratio of -3.04 and a beta of 2.52.
In related news, insider Jeffrey T. L. Smith sold 12,161 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $15.03, for a total transaction of $182,779.83. Following the completion of the transaction, the insider now owns 5,871 shares in the company, valued at approximately $88,241.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in ALDR. Flinton Capital Management LLC acquired a new position in Alder BioPharmaceuticals during the 1st quarter valued at approximately $100,000. Neuburgh Advisers LLC acquired a new position in Alder BioPharmaceuticals during the 1st quarter worth $121,000. SG Americas Securities LLC acquired a new position in Alder BioPharmaceuticals during the 4th quarter worth $132,000. Xact Kapitalforvaltning AB acquired a new position in Alder BioPharmaceuticals during the 1st quarter worth $142,000. Finally, Shepherd Kaplan Krochuk LLC acquired a new position in Alder BioPharmaceuticals during the 1st quarter worth $151,000.
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 and other serious neurological or inflammatory conditions in the United States, Australia, and Ireland.
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