Alder Biopharmaceuticals (NASDAQ:ALDR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Alder Biopharmaceuticals Inc. is a clinical-stage biopharmaceutical company. It discovers, develops and seeks to commercialize therapeutic antibodies. It is developing monoclonal antibodies comprising ALD403, for the prevention of migraine; and Clazakizumab, in the treatment of rheumatoid arthritis and psoriatic arthritis. Alder Biopharmaceuticals Inc. is headquartered in Bothell, Washington. “
Several other research analysts also recently commented on the company. ValuEngine downgraded Alder Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, October 18th. Cantor Fitzgerald restated a “hold” rating and set a $21.00 price target on shares of Alder Biopharmaceuticals in a report on Tuesday, October 23rd. BidaskClub upgraded Alder Biopharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, November 3rd. Cowen set a $23.00 price target on Alder Biopharmaceuticals and gave the stock a “buy” rating in a report on Monday, November 5th. Finally, Wells Fargo & Co initiated coverage on Alder Biopharmaceuticals in a report on Tuesday, November 6th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $21.58.
In related news, insider Jeffrey T. L. Smith sold 5,044 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $13.84, for a total value of $69,808.96. Following the sale, the insider now directly owns 5,875 shares in the company, valued at $81,310. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 17.40% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of ALDR. Artal Group S.A. acquired a new position in shares of Alder Biopharmaceuticals during the fourth quarter worth approximately $2,050,000. Massachusetts Financial Services Co. MA raised its position in shares of Alder Biopharmaceuticals by 2.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 752,802 shares of the biopharmaceutical company’s stock worth $7,716,000 after purchasing an additional 15,514 shares during the period. LPL Financial LLC raised its position in shares of Alder Biopharmaceuticals by 43.4% during the fourth quarter. LPL Financial LLC now owns 18,175 shares of the biopharmaceutical company’s stock worth $186,000 after purchasing an additional 5,500 shares during the period. TD Asset Management Inc. raised its position in shares of Alder Biopharmaceuticals by 7.9% during the fourth quarter. TD Asset Management Inc. now owns 211,183 shares of the biopharmaceutical company’s stock worth $2,165,000 after purchasing an additional 15,488 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Alder Biopharmaceuticals by 77.3% during the fourth quarter. Rhumbline Advisers now owns 97,762 shares of the biopharmaceutical company’s stock worth $1,002,000 after purchasing an additional 42,624 shares during the period.
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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