Mizuho Reiterates Buy Rating for Alder BioPharmaceuticals (ALDR)

Alder BioPharmaceuticals (NASDAQ:ALDR)‘s stock had its “buy” rating reissued by research analysts at Mizuho in a research note issued on Tuesday, MarketBeat.com reports. They currently have a $29.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $32.00. Mizuho’s price objective would indicate a potential upside of 67.15% from the company’s current price.

ALDR has been the topic of several other reports. ValuEngine raised shares of Alder BioPharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, September 30th. Cowen began coverage on shares of Alder BioPharmaceuticals in a research note on Tuesday, September 26th. They issued an “outperform” rating and a $20.00 price target on the stock. BidaskClub downgraded shares of Alder BioPharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 19th. Canaccord Genuity began coverage on shares of Alder BioPharmaceuticals in a research note on Thursday, October 26th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Royal Bank of Canada began coverage on shares of Alder BioPharmaceuticals in a research note on Thursday, September 14th. They issued an “outperform” rating and a $17.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $27.79.

Alder BioPharmaceuticals (NASDAQ:ALDR) opened at $17.35 on Tuesday. The stock has a market cap of $1,170.00, a price-to-earnings ratio of -3.23 and a beta of 2.48. Alder BioPharmaceuticals has a twelve month low of $8.60 and a twelve month high of $25.45.

Alder BioPharmaceuticals (NASDAQ:ALDR) last posted its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.92) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.21) by $0.29. During the same quarter in the previous year, the company earned ($0.70) EPS. analysts predict that Alder BioPharmaceuticals will post -5.14 EPS for the current fiscal year.

In other news, insider Mark James Litton sold 16,519 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $10.80, for a total value of $178,405.20. Following the transaction, the insider now directly owns 116,451 shares of the company’s stock, valued at $1,257,670.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 10.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Alder BioPharmaceuticals by 5.5% during the second quarter. Vanguard Group Inc. now owns 3,626,573 shares of the biopharmaceutical company’s stock worth $41,525,000 after purchasing an additional 187,871 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Alder BioPharmaceuticals during the second quarter worth about $36,956,000. Redmile Group LLC increased its position in Alder BioPharmaceuticals by 16.4% during the second quarter. Redmile Group LLC now owns 2,223,811 shares of the biopharmaceutical company’s stock worth $25,463,000 after purchasing an additional 313,925 shares during the last quarter. State Street Corp increased its position in Alder BioPharmaceuticals by 9.4% during the second quarter. State Street Corp now owns 1,944,755 shares of the biopharmaceutical company’s stock worth $22,267,000 after purchasing an additional 167,642 shares during the last quarter. Finally, BB Biotech AG increased its position in Alder BioPharmaceuticals by 15.2% during the second quarter. BB Biotech AG now owns 1,941,008 shares of the biopharmaceutical company’s stock worth $22,225,000 after purchasing an additional 255,858 shares during the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.

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About Alder BioPharmaceuticals

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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