Alder Biopharmaceuticals (NASDAQ:ALDR) Hits New 1-Year Low at $8.65

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Alder Biopharmaceuticals Inc (NASDAQ:ALDR)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $8.65 and last traded at $8.65, with a volume of 33496 shares changing hands. The stock had previously closed at $8.96.

Several analysts have recently weighed in on ALDR shares. Cantor Fitzgerald reissued a “hold” rating and issued a $14.00 target price on shares of Alder Biopharmaceuticals in a report on Thursday, May 2nd. Leerink Swann started coverage on Alder Biopharmaceuticals in a report on Tuesday, May 28th. They issued an “outperform” rating and a $21.00 target price for the company. BidaskClub downgraded Alder Biopharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, August 3rd. Cowen set a $18.00 target price on Alder Biopharmaceuticals and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Svb Leerink started coverage on Alder Biopharmaceuticals in a report on Tuesday, May 28th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Alder Biopharmaceuticals presently has an average rating of “Buy” and a consensus price target of $16.88.

The stock has a market cap of $756.11 million, a price-to-earnings ratio of -1.77 and a beta of 2.50. The company has a 50-day moving average of $9.95 and a 200-day moving average of $11.90. The company has a debt-to-equity ratio of 1.74, a quick ratio of 8.94 and a current ratio of 8.94.

Alder Biopharmaceuticals (NASDAQ:ALDR) last issued its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.99) by $0.27. As a group, equities research analysts forecast that Alder Biopharmaceuticals Inc will post -4.13 EPS for the current year.

Hedge funds have recently modified their holdings of the stock. TD Asset Management Inc. increased its position in Alder Biopharmaceuticals by 4.2% in the 1st quarter. TD Asset Management Inc. now owns 220,064 shares of the biopharmaceutical company’s stock valued at $3,004,000 after acquiring an additional 8,881 shares during the period. Fulcrum Capital LLC acquired a new position in Alder Biopharmaceuticals during the 2nd quarter worth approximately $127,000. Legal & General Group Plc increased its position in Alder Biopharmaceuticals by 7.3% during the 4th quarter. Legal & General Group Plc now owns 24,842 shares of the biopharmaceutical company’s stock worth $254,000 after purchasing an additional 1,698 shares during the period. Fosun International Ltd increased its position in Alder Biopharmaceuticals by 26.5% during the 1st quarter. Fosun International Ltd now owns 233,858 shares of the biopharmaceutical company’s stock worth $3,113,000 after purchasing an additional 49,045 shares during the period. Finally, Rhumbline Advisers increased its position in Alder Biopharmaceuticals by 10.3% during the 1st quarter. Rhumbline Advisers now owns 107,797 shares of the biopharmaceutical company’s stock worth $1,471,000 after purchasing an additional 10,035 shares during the period.

About Alder Biopharmaceuticals (NASDAQ:ALDR)

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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