Alder Biopharmaceuticals (NASDAQ:ALDR) Lifted to Equal Weight at Morgan Stanley

Alder Biopharmaceuticals (NASDAQ:ALDR) was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a report issued on Monday, The Fly reports.

Several other equities research analysts have also recently issued reports on ALDR. Credit Suisse Group reiterated a “neutral” rating on shares of Alder Biopharmaceuticals in a report on Wednesday, July 10th. Leerink Swann began coverage on Alder Biopharmaceuticals in a report on Tuesday, May 28th. They issued an “outperform” rating and a $21.00 price objective on the stock. Canaccord Genuity cut Alder Biopharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday. Svb Leerink began coverage on Alder Biopharmaceuticals in a report on Tuesday, May 28th. They issued an “outperform” rating on the stock. Finally, BMO Capital Markets cut Alder Biopharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $16.57.

ALDR stock traded up $8.49 during trading on Monday, hitting $18.55. The stock had a trading volume of 3,084,612 shares, compared to its average volume of 569,102. The company has a debt-to-equity ratio of 1.74, a current ratio of 8.94 and a quick ratio of 8.94. Alder Biopharmaceuticals has a twelve month low of $8.39 and a twelve month high of $18.70. The stock has a market capitalization of $814.63 million, a P/E ratio of -3.81 and a beta of 2.56. The company’s 50-day moving average price is $9.38 and its two-hundred day moving average price is $11.49.

Alder Biopharmaceuticals (NASDAQ:ALDR) last posted its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.99) by $0.27. As a group, sell-side analysts expect that Alder Biopharmaceuticals will post -4.13 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALDR. Marshall Wace LLP lifted its stake in Alder Biopharmaceuticals by 7,812.2% in the 2nd quarter. Marshall Wace LLP now owns 1,675,804 shares of the biopharmaceutical company’s stock worth $19,724,000 after purchasing an additional 1,654,624 shares in the last quarter. Artal Group S.A. lifted its stake in Alder Biopharmaceuticals by 70.0% in the 2nd quarter. Artal Group S.A. now owns 850,000 shares of the biopharmaceutical company’s stock worth $10,005,000 after purchasing an additional 350,000 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in Alder Biopharmaceuticals in the 2nd quarter worth approximately $3,230,000. Empire Life Investments Inc. lifted its stake in Alder Biopharmaceuticals by 2,494.2% in the 2nd quarter. Empire Life Investments Inc. now owns 247,333 shares of the biopharmaceutical company’s stock worth $2,911,000 after purchasing an additional 237,799 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Alder Biopharmaceuticals by 22.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,162,005 shares of the biopharmaceutical company’s stock worth $11,910,000 after purchasing an additional 215,098 shares in 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 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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Analyst Recommendations for Alder Biopharmaceuticals (NASDAQ:ALDR)

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