Cantor Fitzgerald set a $21.00 price target on Alder Biopharmaceuticals (NASDAQ:ALDR) in a research note issued to investors on Tuesday. The brokerage currently has a hold rating on the biopharmaceutical company’s stock.
“. We reiterate our Neutral rating and $21 PT for ALDR. Monday, AMC, Alder reported cash of $485M, and our model projects the balance sheet to fund operations well into 2020. Questions on the earnings call centered on the eptinezumab market opportunity and commercialization strategy as the fourth CGRP monoclonal to enter the space. We believe that epti’ is in a class all its own as the only IV form and has a differentiated clinical profile that makes it well-positioned to target the highest burden migraine market and a prescriber base that would prefer to use in-office infusion capabilities.”,” Cantor Fitzgerald’s analyst wrote.
A number of other equities research analysts have also recently issued reports on ALDR. Zacks Investment Research cut shares of Alder Biopharmaceuticals from a buy rating to a hold rating in a report on Monday, October 22nd. BidaskClub raised shares of Alder Biopharmaceuticals from a hold rating to a buy rating in a report on Wednesday, July 18th. ValuEngine raised shares of Alder Biopharmaceuticals from a hold rating to a buy rating in a report on Friday, October 26th. Stifel Nicolaus started coverage on shares of Alder Biopharmaceuticals in a report on Tuesday, August 7th. They issued a buy rating and a $30.00 price target on the stock. Finally, Piper Jaffray Companies started coverage on shares of Alder Biopharmaceuticals in a report on Monday, August 6th. They issued an overweight rating and a $28.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Alder Biopharmaceuticals has a consensus rating of Buy and a consensus price target of $21.67.
Alder Biopharmaceuticals (NASDAQ:ALDR) last issued its earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.13) by $0.22. Sell-side analysts predict that Alder Biopharmaceuticals will post -4.47 EPS for the current fiscal year.
In other news, insider John A. Latham sold 24,999 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $17.99, for a total transaction of $449,732.01. Following the transaction, the insider now directly owns 268,692 shares of the company’s stock, valued at $4,833,769.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John A. Latham sold 25,002 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $13.42, for a total transaction of $335,526.84. Following the transaction, the insider now directly owns 250,514 shares in the company, valued at $3,361,897.88. The disclosure for this sale can be found here. Insiders have sold 90,120 shares of company stock worth $1,407,922 over the last ninety days. Insiders own 17.40% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Quantitative Systematic Strategies LLC boosted its position in shares of Alder Biopharmaceuticals by 25.0% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 13,115 shares of the biopharmaceutical company’s stock worth $207,000 after acquiring an additional 2,626 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new stake in shares of Alder Biopharmaceuticals during the 3rd quarter worth approximately $400,000. Legal & General Group Plc boosted its position in shares of Alder Biopharmaceuticals by 31.1% during the 1st quarter. Legal & General Group Plc now owns 25,547 shares of the biopharmaceutical company’s stock worth $324,000 after acquiring an additional 6,060 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Alder Biopharmaceuticals during the 2nd quarter worth approximately $107,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Alder Biopharmaceuticals during the 2nd quarter worth approximately $128,000.
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.
Further Reading: Technical Analysis
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