Alder Biopharmaceuticals (NASDAQ:ALDR) Reaches New 12-Month High at $19.01

Shares of Alder Biopharmaceuticals Inc (NASDAQ:ALDR) hit a new 52-week high during trading on Monday . The stock traded as high as $19.01 and last traded at $19.01, with a volume of 212033 shares traded. The stock had previously closed at $18.92.

ALDR has been the subject of several research analyst reports. BidaskClub raised shares of Alder Biopharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 18th. Svb Leerink lowered shares of Alder Biopharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday, September 16th. BMO Capital Markets lowered shares of Alder Biopharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday, September 16th. Zacks Investment Research raised shares of Alder Biopharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $22.00 price target for the company in a research report on Tuesday, October 15th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $19.00 price target (up previously from $11.00) on shares of Alder Biopharmaceuticals in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $18.83.

The firm’s 50-day moving average price is $15.51 and its 200-day moving average price is $12.39. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -3.89 and a beta of 2.64. 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 (NASDAQ:ALDR) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.99) by $0.27. On average, sell-side analysts anticipate that Alder Biopharmaceuticals Inc will post -3.89 earnings per share for the current year.

In other news, Director Jeffrey T. L. Smith sold 32,728 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $18.44, for a total value of $603,504.32. Following the completion of the sale, the director now owns 27,999 shares of the company’s stock, valued at $516,301.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 15.40% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its stake in shares of Alder Biopharmaceuticals by 7,812.2% in the second quarter. Marshall Wace LLP now owns 1,675,804 shares of the biopharmaceutical company’s stock valued at $19,724,000 after purchasing an additional 1,654,624 shares during the period. Artal Group S.A. boosted its stake in Alder Biopharmaceuticals by 70.0% during the 2nd quarter. Artal Group S.A. now owns 850,000 shares of the biopharmaceutical company’s stock valued at $10,005,000 after acquiring an additional 350,000 shares during the last quarter. Nuveen Asset Management LLC bought a new position in Alder Biopharmaceuticals during the 2nd quarter valued at $3,230,000. Empire Life Investments Inc. boosted its stake in Alder Biopharmaceuticals by 2,494.2% during the 2nd quarter. Empire Life Investments Inc. now owns 247,333 shares of the biopharmaceutical company’s stock valued at $2,911,000 after acquiring an additional 237,799 shares during the last quarter. Finally, AXA boosted its stake in Alder Biopharmaceuticals by 169.2% during the 2nd quarter. AXA now owns 222,600 shares of the biopharmaceutical company’s stock valued at $2,620,000 after acquiring an additional 139,900 shares during the last quarter.

About Alder Biopharmaceuticals (NASDAQ:ALDR)

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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