Alder Biopharmaceuticals (NASDAQ:ALDR) Lifted to “Neutral” at UBS Group

UBS Group upgraded shares of Alder Biopharmaceuticals (NASDAQ:ALDR) from a sell rating to a neutral rating in a research report report published on Tuesday morning, BenzingaRatingsTable reports. UBS Group currently has $19.50 target price on the biopharmaceutical company’s stock, up from their prior target price of $9.00.

ALDR has been the subject of several other reports. Leerink Swann started coverage on shares of Alder Biopharmaceuticals in a report on Tuesday, May 28th. They set an outperform rating and a $21.00 target price for the company. Svb Leerink started coverage on shares of Alder Biopharmaceuticals in a report on Tuesday, May 28th. They issued an outperform rating for the company. BidaskClub lowered shares of Alder Biopharmaceuticals from a sell rating to a strong sell rating in a report on Saturday, August 3rd. ValuEngine upgraded shares of Alder Biopharmaceuticals from a hold rating to a buy rating in a report on Monday. Finally, Credit Suisse Group restated a neutral rating on shares of Alder Biopharmaceuticals in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Alder Biopharmaceuticals currently has a consensus rating of Hold and an average target price of $17.61.

ALDR stock opened at $18.66 on Tuesday. The firm has a 50 day moving average price of $10.03 and a 200-day moving average price of $11.56. Alder Biopharmaceuticals has a 52-week low of $8.39 and a 52-week high of $18.90. The company has a current ratio of 8.94, a quick ratio of 8.94 and a debt-to-equity ratio of 1.74.

Alder Biopharmaceuticals (NASDAQ:ALDR) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.99) by $0.27. Research analysts predict that Alder Biopharmaceuticals will post -4.13 earnings per share for the current fiscal year.

In other news, Director Jeffrey T. L. Smith sold 32,728 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $18.44, for a total transaction of $603,504.32. Following the completion of the sale, the director now owns 27,999 shares of the company’s stock, valued at approximately $516,301.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 15.40% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Point72 Hong Kong Ltd grew its position in shares of Alder Biopharmaceuticals by 236.9% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,217 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 2,262 shares during the period. Diamond Hill Capital Management Inc. bought a new position in Alder Biopharmaceuticals in the 2nd quarter worth $126,000. Fulcrum Capital LLC bought a new position in Alder Biopharmaceuticals in the 2nd quarter worth $127,000. Quantamental Technologies LLC bought a new position in Alder Biopharmaceuticals in the 2nd quarter worth $156,000. Finally, Quantitative Systematic Strategies LLC bought a new position in Alder Biopharmaceuticals in the 2nd quarter worth $167,000.

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 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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