ALDR has been the subject of a number of other reports. Morgan Stanley raised Alder Biopharmaceuticals from an underweight rating to an equal weight rating and lifted their target price for the company from $15.00 to $18.00 in a research report on Monday. Credit Suisse Group reaffirmed a neutral rating on shares of Alder Biopharmaceuticals in a research report on Wednesday, July 10th. BMO Capital Markets lowered Alder Biopharmaceuticals from an outperform rating to a market perform rating in a research report on Monday. Leerink Swann began coverage on Alder Biopharmaceuticals in a research report on Tuesday, May 28th. They set an outperform rating and a $21.00 target price on the stock. Finally, Needham & Company LLC lowered Alder Biopharmaceuticals from a buy rating to a hold rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $17.61.
NASDAQ ALDR opened at $18.66 on Monday. The business has a 50 day simple moving average of $10.03 and a two-hundred day simple moving average of $11.56. The company has a debt-to-equity ratio of 1.74, a quick ratio of 8.94 and a current ratio of 8.94. Alder Biopharmaceuticals has a 1-year low of $8.39 and a 1-year high of $18.90.
In related news, Director Jeffrey T. L. Smith sold 32,728 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $18.44, for a total transaction of $603,504.32. Following the transaction, the director now directly owns 27,999 shares of the company’s stock, valued at approximately $516,301.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 15.40% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd grew its stake in 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 purchasing an additional 2,262 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in shares of Alder Biopharmaceuticals during the second quarter worth about $126,000. Fulcrum Capital LLC acquired a new stake in shares of Alder Biopharmaceuticals during the second quarter worth about $127,000. Quantamental Technologies LLC acquired a new stake in shares of Alder Biopharmaceuticals during the second quarter worth about $156,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of Alder Biopharmaceuticals during the second quarter worth about $167,000.
About Alder Biopharmaceuticals
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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