Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.48) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.67) by $0.19, Briefing.com reports. The firm had revenue of $0.68 million during the quarter. During the same period in the prior year, the company earned ($0.79) EPS. The company’s revenue for the quarter was up 518.2% on a year-over-year basis.
Shares of Alder BioPharmaceuticals (NASDAQ:ALDR) opened at 8.80 on Friday. The firm’s market capitalization is $595.87 million. The company’s 50-day moving average price is $10.70 and its 200-day moving average price is $17.83. Alder BioPharmaceuticals has a 12-month low of $8.75 and a 12-month high of $36.48.
A number of analysts have commented on the company. UBS AG began coverage on Alder BioPharmaceuticals in a research report on Friday, May 5th. They issued a “sell” rating and a $13.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $36.00 target price on shares of Alder BioPharmaceuticals in a research report on Friday, June 9th. Aegis restated a “buy” rating and set a $41.00 target price on shares of Alder BioPharmaceuticals in a research report on Tuesday, April 25th. Leerink Swann restated an “outperform” rating and set a $32.00 target price on shares of Alder BioPharmaceuticals in a research report on Monday, June 12th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $47.00 target price on shares of Alder BioPharmaceuticals in a research report on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. Alder BioPharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $32.92.
In other news, Director Stephen M. Dow acquired 25,000 shares of the stock in a transaction dated Tuesday, July 18th. The stock was purchased at an average cost of $10.00 per share, with a total value of $250,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 10.60% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Bank of Montreal Can increased its position in shares of Alder BioPharmaceuticals by 3,047.2% in the first quarter. Bank of Montreal Can now owns 5,602 shares of the biopharmaceutical company’s stock valued at $117,000 after buying an additional 5,424 shares during the period. Stifel Financial Corp purchased a new position in shares of Alder BioPharmaceuticals during the first quarter valued at approximately $206,000. Trexquant Investment LP purchased a new position in shares of Alder BioPharmaceuticals during the first quarter valued at approximately $265,000. Legal & General Group Plc boosted its position in shares of Alder BioPharmaceuticals by 2.6% in the second quarter. Legal & General Group Plc now owns 15,496 shares of the biopharmaceutical company’s stock valued at $177,000 after buying an additional 400 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Alder BioPharmaceuticals by 109.4% in the second quarter. SG Americas Securities LLC now owns 15,580 shares of the biopharmaceutical company’s stock valued at $178,000 after buying an additional 8,140 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.
Alder BioPharmaceuticals Company Profile
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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