Alder Biopharmaceuticals (ALDR) Stock Rating Reaffirmed by Mizuho

Mizuho reaffirmed their buy rating on shares of Alder Biopharmaceuticals (NASDAQ:ALDR) in a research report sent to investors on Wednesday. They currently have a $29.00 target price on the biopharmaceutical company’s stock.

“We spoke with the company a couple of times late last week and this week after the announcement that CEO Randall Schatzman was stepping down. Our view on eptinezumab having a competitive and differentiated profile in the crowded migraine space has not changed. While the CEO transition brings uncertainties, it may help position the company as a commercial organization sooner. In our view, the best way to unlock the value of eptinezumab is through an acquisition by a larger company with substantial U.S. commercial experience. We recommend buying the shares on weakness.”,” Mizuho’s analyst wrote.

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Several other brokerages also recently weighed in on ALDR. BidaskClub downgraded Alder Biopharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, March 20th. Leerink Swann restated an outperform rating on shares of Alder Biopharmaceuticals in a research note on Sunday, March 4th. BMO Capital Markets restated a buy rating and set a $22.00 target price on shares of Alder Biopharmaceuticals in a research note on Wednesday, January 3rd. ValuEngine upgraded Alder Biopharmaceuticals from a strong sell rating to a sell rating in a research note on Thursday, January 4th. Finally, Zacks Investment Research downgraded Alder Biopharmaceuticals from a hold rating to a sell rating in a research note on Thursday, January 11th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. Alder Biopharmaceuticals has a consensus rating of Buy and a consensus target price of $28.14.

Shares of ALDR stock opened at $12.70 on Wednesday. Alder Biopharmaceuticals has a 1-year low of $8.60 and a 1-year high of $22.50.

Alder Biopharmaceuticals (NASDAQ:ALDR) last announced its earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.03) by $0.23. The business had revenue of $0.94 million for the quarter. During the same quarter last year, the business posted ($0.97) EPS. research analysts predict that Alder Biopharmaceuticals will post -4.25 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the business. Pinnacle Associates Ltd. purchased a new stake in Alder Biopharmaceuticals during the 3rd quarter valued at about $14,823,000. Brown Advisory Inc. grew its stake in Alder Biopharmaceuticals by 50.4% during the 4th quarter. Brown Advisory Inc. now owns 862,585 shares of the biopharmaceutical company’s stock valued at $9,877,000 after purchasing an additional 289,120 shares during the last quarter. Emerald Advisers Inc. PA grew its stake in Alder Biopharmaceuticals by 9.6% during the 4th quarter. Emerald Advisers Inc. PA now owns 1,730,028 shares of the biopharmaceutical company’s stock valued at $19,809,000 after purchasing an additional 151,551 shares during the last quarter. American International Group Inc. grew its stake in Alder Biopharmaceuticals by 43.7% during the 3rd quarter. American International Group Inc. now owns 42,060 shares of the biopharmaceutical company’s stock valued at $515,000 after purchasing an additional 12,784 shares during the last quarter. Finally, Redmile Group LLC grew its stake in Alder Biopharmaceuticals by 0.4% during the 4th quarter. Redmile Group LLC now owns 6,505,766 shares of the biopharmaceutical company’s stock valued at $74,491,000 after purchasing an additional 29,000 shares during the last quarter. Institutional investors and hedge funds own 99.14% of the company’s stock.

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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.

Analyst Recommendations for Alder Biopharmaceuticals (NASDAQ:ALDR)

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