Alder Biopharmaceuticals (ALDR) Lowered to Neutral at Mizuho

Mizuho lowered shares of Alder Biopharmaceuticals (NASDAQ:ALDR) from a buy rating to a neutral rating in a report released on Friday, MarketBeat Ratings reports. Mizuho currently has $15.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $29.00.

A number of other equities analysts have also recently weighed in on ALDR. BidaskClub raised Alder Biopharmaceuticals from a hold rating to a buy rating in a report on Monday, June 18th. Needham & Company LLC initiated coverage on Alder Biopharmaceuticals in a report on Wednesday, June 27th. They set a buy rating and a $28.00 price objective on the stock. ValuEngine raised Alder Biopharmaceuticals from a hold rating to a buy rating in a report on Thursday, June 28th. Piper Jaffray Companies assumed coverage on Alder Biopharmaceuticals in a report on Monday, August 6th. They set an overweight rating and a $28.00 price objective on the stock. Finally, Stifel Nicolaus assumed coverage on Alder Biopharmaceuticals in a research report on Tuesday, August 7th. They set a buy rating and a $30.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $21.75.

Shares of NASDAQ ALDR traded down $0.13 during trading hours on Friday, reaching $13.27. 1,626,622 shares of the stock traded hands, compared to its average volume of 1,205,437. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -2.68 and a beta of 2.59. The company has a current ratio of 10.88, a quick ratio of 10.88 and a debt-to-equity ratio of 0.73. Alder Biopharmaceuticals has a 52-week low of $9.55 and a 52-week high of $20.87.

Alder Biopharmaceuticals (NASDAQ:ALDR) last announced its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported ($1.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.05) by $0.01. On average, analysts forecast that Alder Biopharmaceuticals will post -4.73 EPS for the current fiscal year.

In other news, Director Jeffrey T. L. Smith sold 5,040 shares of Alder Biopharmaceuticals stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $19.54, for a total value of $98,481.60. Following the sale, the director now directly owns 5,871 shares in the company, valued at approximately $114,719.34. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John A. Latham sold 24,999 shares of Alder Biopharmaceuticals stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $15.44, for a total value of $385,984.56. Following the completion of the sale, the insider now owns 261,878 shares in the company, valued at $4,043,396.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,117 shares of company stock worth $1,591,970. 17.40% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. Brown Advisory Inc. grew its position in shares of Alder Biopharmaceuticals by 1.2% in the 2nd quarter. Brown Advisory Inc. now owns 1,078,596 shares of the biopharmaceutical company’s stock worth $17,042,000 after buying an additional 12,432 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Alder Biopharmaceuticals by 2.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 842,418 shares of the biopharmaceutical company’s stock worth $13,310,000 after buying an additional 19,634 shares during the last quarter. Bellevue Group AG grew its position in shares of Alder Biopharmaceuticals by 8.4% in the 2nd quarter. Bellevue Group AG now owns 758,964 shares of the biopharmaceutical company’s stock worth $11,992,000 after buying an additional 58,500 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Alder Biopharmaceuticals by 10.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 737,398 shares of the biopharmaceutical company’s stock worth $11,651,000 after buying an additional 69,327 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Alder Biopharmaceuticals by 34.9% in the 2nd quarter. Renaissance Technologies LLC now owns 434,800 shares of the biopharmaceutical company’s stock worth $6,870,000 after buying an additional 112,500 shares during the last quarter.

Alder Biopharmaceuticals Company Profile

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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Analyst Recommendations for Alder Biopharmaceuticals (NASDAQ:ALDR)

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