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.
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.
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.
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